OGDCL registers Rs39.565b profit in Q1

Staff Reporter

Islamabad—Oil and Gas Development Company Limited (OGDCL) has registered net profit of Rs39.565 billion and profit after tax stood at Rs14.631 billion translating into Earnings per share of Rs3.40 in the first quarter for the year 2016-17. OGDCL Board of Directors announced the financial results for the Quarter ended on September 30, 2016.
The Board of Directors (BoD) announced first interim cash dividend of Rs1.50 per share. The dividend will be paid to the shareholders whose names will appear in the Register of Members on Monday, December 12, 2016.
During the period under review, the Company paid Rs6.202 billion on the account of Taxes. 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 ensuring financial discipline, accelerating project development, undertaking record exploratory work and implementing HR reforms during the period.

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