OGDCL posts over Rs 81 bln sales, Rs 30 bln profit in two quarters


ISLAMABAD, Feb 20 (APP): The Board of Directors of Oil and Gas Development Company Limited (OGDCL) Monday day announced the financial results of the company for two quarters of the current fiscal year.
“The company’s net sales revenue was registered as Rs 81.081 billion and profit after tax stood at Rs 30.008 billion translating into earnings per share of Rs 6.98 in the half year ending December 31, 2016,” a press release said.
The board announced second interim cash dividend of Rs 1 per share (10 percent). The dividend will be paid to the shareholders whose names will appear in the Register of Members on March 14, 2017.
During the period under review, the company paid Rs 10.494 billion on account of taxes. While, on the exploration and development side, it recorded significant enhancement in seismic efforts and drilling activities.
The board appreciated efforts of the management for ensuring production enhancement and undertaking record exploratory work during the period.