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OGDCL posts over Rs 39 bln sales, Rs 14 bln profit in 1st quarter

Latest Update: October 28, 2016 | 142 Views
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ISLAMABAD: The Board of Directors of Oil and Gas Development Company Limited (OGDCL) Thursday announced the financial results of the company for first quarter of the current financial year.

“The company’s net sales revenue was registered as Rs 39.565 billion and profit after tax stood at Rs 14.631 billion translating into earnings per share of Rs 3.40 in the first quarter for the year 2016-17,” a press release issued here said.

The board announced first interim cash dividend at the rate of Rs 1.50 per share. The dividend will be paid to the shareholders whose names will appear in the Register of Members on December 12, 2016.

During the period under review, the company paid Rs 6.202 billion on the account of taxes.

While, on the exploration and development side, OGDCL recorded significant increase in seismic efforts and drilling activities.

The board appreciated the OGDCL managements for making efforts to ensure financial discipline, accelerate project development, undertake record exploratory work and implement human resource reforms during the period.

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