OGDCL net sales revenue increases by 18pc to Rs95.960bn


ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) net sales revenue increased by 18 per cent to Rs95.960 billion compared to Rs81.081 billion in the corresponding period of last year. Profit after tax stood at Rs36.671 billion compared to Rs30.008 billion in the same quarter. This translated into earnings per share of Rs8.53.

This was stated by the Board of Directors of OGDCL in its 200th meeting held on February 19, at OGDCL Head Office Islamabad.

The board announced the financial results for the second quarter ended December 31, 2017.

The board announced a second interim cash dividend of Rs3.00 per share. The cash dividend will be paid to the shareholders whose names will appear in the Register of Members on Tuesday, March 13.

During the period under review, the company paid Rs7.977 billion on the account of taxes. On the exploration and development side, it made significant progress in seismic and drilling activities.

The board appreciated the efforts of the management for ensuring production enhancement and significant exploratory work during the period.