The operating profit of Bahman Motor Company decreased by 4 thousand billion tomans

New financial reports show that the operating profit of Bahman Motor Company has decreased by 4 thousand billion tomans compared to the previous period.

According to the latest car news, the CEO of Bahman Motor Company, referring to the company’s recent financial results, announced a significant decrease in operating profit and explained that the major part of the profit recorded last year was mainly due to the sale of the company’s assets and investments in the previous year. Based on this, Bahman Motor’s operating profit has decreased by about 4 thousand billion tomans.

Bahman Motor’s operating profit reached 194 billion tomans

Mohammad Mohammadi, the CEO of Bahman Motor Company, in a letter addressed to Jafar Soltani, the head of the Industrial and Mining Group Publishers Supervision Department, explained the reasons for the significant drop in the company’s operating profit in the 9-month period ending on December 30, 1404. According to the information presented in this report, the operating profit of Bahman Group in this period is from 44,260,454 million Rials (equivalent to 4 thousand 426 billion tomans) in the same period of the previous year, to 1,946,898 million Rials (approx 194 billion tomans) has decreased, indicating an equivalent drop 4 thousand 231 billion Tomans It is in the operating profit of the company.

The CEO and member of the Bahman Group’s board of directors stated that the main reason for this significant decrease was the drop in profit due to the sale of investments in the current period and emphasized that a significant part of the profit recorded in the same period last year was the result of one or more major disposals of assets and investments. For this reason and in the absence of such big deals in the current financial year, the operating profit of the company has decreased significantly.

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Mohammadi has also mentioned in the explanation of the reduction of “instrumental profit” that the identification of the major part of these revenues is usually done in the fourth quarter of the financial year and at the same time as the meetings are held and the profits of the subsidiary companies are approved. Therefore, the non-identification of these incomes in the 9-month report does not mean their elimination or destruction, but it refers to the timing of the accounting registration of these profits.

Based on this, the CEO of Bahman Group has stated that the current decrease in operating profit is more than the result of a stable drop in the main income of the company, it is the result of the lack of a large sale of assets similar to last year, and it is expected that an important part of the income from the performance of subsidiaries and affiliates will be recognized in the last quarter of the financial year and reflected in the final financial statements.