OGDCL Profit amounts to Rs 171b

Staff Report

The oil and gas development company limited (OGDCL) has recorded a profit of Rs. 171.104 billion after tax and earnings per share of Rs. 39.78 during the first nine months of the ongoing financial year.

The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on April 29, 2024, at OGDCL Head Office, Islamabad announced the financial results for the period ended on March 31, 2024, of the fiscal year 2023-24.

Net sales revenue clocked at Rs. 348.164 billion translating to Profit after tax of Rs. 171.104 billion and earnings per share of Rs. 39.78.

The Board of Directors announced an interim cash dividend for the quarter ended March 31, 2024, @ Rs 2.00 per share i.e. 20 percent.

This is in addition to the interim dividend already paid @ Rs.4.1 per share i.e. 41 percent to its shareholders.

The dividend will be paid to the shareholders whose names will appear in the Register of Members on May 09, 2024.

During the period under review, the Company paid Rs. 68.497 billion on account of Taxation.

On the exploration and development side company recorded significant enhancement in seismic efforts and drilling activities.OGDCL Makes First Discovery of Tight Gas Under New Policy

The Share Transfer Books of the Company will be closed from May 10, 2024, to May 13, 2024 (both days inclusive). Transfers received at the CDC Share Registrar Services Limited, CDC House, 99-B, Block “B”, S.M.C.H.S., Main Shahrah-e-Faisal, Karachi 74400 at the close of business on May 09, 2024, will be treated in time for the purpose of above entitlement to the transferees.

 The Board of Directors appreciated the efforts of the management for taking effective steps for the implementation of the company’s aggressive exploration program.