KazMunayGas posts net revenue worth around KZT550bn

KazMunayGas national company released its financial results for the first half of 2024, demonstrating a 12.5% growth in its net revenue, Kazinform News Agency reports.

According to the financial report KazMunayGas posted for the first half of the year, the company’s net profit stood at 549.5 billion tenge. Its total revenue amounted to 4,239bln tenge compared to 3,943 billion tenge in the first six months of this year.

The company reported that its operating expenses increased by 8.2% and amounted to 639 billion tenge mainly due to the indexation of wage costs for production workers in the regions of presence as well as an increase in transportation costs due to an increase in tariffs and transportation volumes. Transportation and distribution costs amounted to 132 billion tenge, up 10.1% compared to the first half of 2023.

Kazmunaygas’s assets rose 3.7% to 17.5 trillion tenge, where as its obligations reached 6.9 trillion tenge, up 6.2% in the first half of the year. The company saw its capital rise 2.1% to 10,610 trillion tenge.