Tashkent, Uzbekistan (UzDaily.com) -- The net profit of the automobile engine manufacturer UzAuto Motors Powertrain made up 45.2 billion soums in the first quarter of 2024, which is 202.3% higher than the same period of last year.

The net revenue of UzAuto Motors Powertrain for January-March reached almost 1.1 trillion soums, which is 118.6% more than the same period last year.

Gross profit increased from 378.1 million to 115.5 billion soums.

Long-term loans decreased from 262.2 billion to 87.4 billion soums, and short-term debts increased from 818.9 billion to 1.3 trillion soums.

The company’s assets increased by 52.2% and amounted to 5.9 trillion soums. Own capital exceeded 1.4 trillion soums, increasing by 23.8%.

On 19 April 2024, the President signed a resolution “On additional measures to reduce state participation in the economy.” The resolution notes that 5% of the shares of UzAuto Motors Powertrain will be placed on the Tashkent Stock Exchange through an IPO.