Incomes Of The Georgian Railway Are Declining
In the 3rd quarter of 2017, the incomes, generated by the Georgian Railway, declined by 8%, compared to the same period of last year and increased by 21% compared to the 2nd quarter.
Besides, within the first 9 months of the year, the annual incomes of the state company decreased by 6%.
In the 3rd quarter, the incomes of the Georgian Railway amounted to 108 mln GEL and 303 mln GEL within the first 9 months of the year. To compare, within 9 months of the last year, the Georgian Railway generated 323 mln GEL of income.
In the 3rd quarter, the Georgian Railway’s income, generated from cargo transportation declined by 11%, i.e., 8,3 mln GEL and incomes from passenger transportation increased by 35%.
Within 9 months of the year, the incomes generated from cargo transportation declined by 22,7 mln GEL. Within 9 months of this year, Georgian Railway’s income through cargo transportation amounted to 195 mln GEL, while last year this value was equal to 218 mln GEL.
Representatives of the Georgian Railway explain, that decline of incomes within the accounting period was also influenced by lari depreciation. The transportation income of the Georgian Railway depends upon several factors, including the currency exchange rate, since the majority of tariffs is denominated in USD. However, it should be noted that the volume of cargo transportation during 9 months of the current year has decreased by 11%.