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NIGC most profitable company in Iran in year to March 2021

File photo shows a sign of Iran's finance ministry in the capital Tehran.

Figures published by Iran’s finance ministry show the National Iranian Gas Company (NIGC) was the most profitable firm in the country in the year to late March 2021.

The figures covered in a Wednesday report by the official IRNA news agency showed that the NIGC had earned 530 trillion rials (nearly $2 billion considering exchange rate at the time) in untaxed profits in the calendar year to March 20, 2021, making it the most profitable on a list of 77  large state companies in Iran.

A bulk of NIGC’s revenues comes from exports of natural gas to Iraq and Turkey.

The five other profitable companies on finance ministry’s list were the National Iranian Oil Company, the state Organization of Making Targeted Subsidies, the state mining and metals company IMIDRO, the Post Bank and the Telecommunication Infrastructure Company.

Iran's Government Trading Corporation (GTC), a subsidiary of Iran’s agriculture ministry which is responsible for the country's grains purchases and imports, was the most loss-making state company in Iran in the year to late March 2021 with some 390 trillion rials in losses before tax.

Other most loss-making companies in Iran in year to March 2021 were state electricity company Tavanir, Iran’s Thermal Power Plants Holding Company and the country’s second largest lender Bank Sepah.

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