Uzbekistan Railways doubles net profit in Q1 2026

During the first three months of the year, the state-owned railway company generated a net revenue of UZS 4.76 trillion, marking a 21.3% increase compared to the first quarter of 2025. Gross profit witnessed an even sharper rise, climbing 44.4% to reach UZS 1.49 trillion. This growth outpaced the cost of services rendered, which grew by a more modest 13% to UZS 3.26 trillion.

Profit from core operational activities rose by nearly half, exceeding UZS 1.06 trillion. This surge helped offset a noticeable drop in other operating income, which fell threefold from UZS 284.8 billion to UZS 99.3 billion.

Ultimately, these positive dynamics culminated in a substantial bottom-line improvement. The company's net profit for the first quarter of 2026 more than doubled, soaring to UZS 478.9 billion from the UZS 227.5 billion recorded during the same period last year.

The quarterly report also detailed fluctuations in financial and foreign exchange metrics. Income from foreign exchange differences fell to UZS 145.2 billion, while revenue from broader financial activities dropped to UZS 160.3 billion. Concurrently, UTY managed to narrow its losses from these financial activities, reducing them from UZS 294.8 billion to UZS 269.4 billion.

A major contributor to the company’s strong performance was a tighter control over spending. Total expenses for the first quarter fell by 15.9% to UZS 536 billion. A breakdown of these costs shows that selling expenses amounted to UZS 8.28 billion, administrative expenses stood at UZS 159 billion, and other operating costs were successfully scaled back to UZS 368.6 billion.