More than 10 thousand large and medium-sized Moscow enterprises became profitable by the end of 2023

The profit of more than 10 thousand large and medium-sized enterprises of the capital, which finished 2023 with a positive financial result, amounted to more than 12 trillion rubles. This was reported by Vladimir Efimov, Deputy Mayor of Moscow for Economic Policy and Property and Land Relations.

Profitable companies are those that had a positive financial result in the period under consideration, i.e. income from their activities exceeded expenses. The sample did not include state and municipal institutions, banks, insurance organizations and pension funds.

"According to the results of 2023, more than 10 thousand enterprises, or almost 73 percent of large and medium-sized companies of the capital became profitable. They received more than 12 trillion rubles, which is 37 percent more than the result of 2022. Almost 20 percent of this amount, or about 2.4 trillion rubles, was provided by manufacturing industries," added Vladimir Efimov

About two trillion rubles, or more than 16 percent of the total, accounted for the profit of large and medium-sized trade enterprises. Another 1.7 trillion rubles, or almost 14 percent, was made by companies in the financial sector. A trillion rubles, or more than eight percent of the total profit, was received by organizations working in the field of information and communications, and the same amount - by companies from the sphere of professional, scientific and technical activities.

"The leaders in terms of profit growth for 2023 were companies engaged in administrative activities. Compared to 2022, they increased their figures four times - almost to a trillion rubles. By 85 percent - up to 921 billion rubles - the profit of organizations from the sphere of provision of electricity, gas, steam and air conditioning increased, and by 65 percent - almost up to 870 billion rubles - companies of the transportation and storage industry", - said Maria Bagreeva, Minister of the Moscow Government, Head of the Moscow Department of Economic Policy and Development.