The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on 25th October, 2019 at Islamabad announced the financial results for the first quarter of fiscal year 2019-20 (July-September).
Net sales revenue clocked at Rs 66.203 billion translating to Profit after tax of Rs 27.316 billion and earnings per share of Rs 6.35. When compared with the performance during First Quarter last year (2018-19), revenue was up by 7% and net profit surged by 2%. The Board of Directors announced first interim cash dividend @ Rs 2.5 per share. The dividend will be paid to the shareholders whose names will appear in the Register of Members Thursday, Dec 12, 2019.
During the period under review, the Company paid Rs 12.372 billion on account of Taxes, besides Royalty of Rs 7.739 billion. On the exploration and development side company recorded significant enhancement in seismic efforts and drilling activities.
The Board of Directors appreciated the efforts of the management for taking effective steps for the implementation of company’s aggressive exploration program.