The profit after tax of Oil and Gas Development Company (OGDC) has increased to Rs 19.662 billion in the three month period ended December 31, 2017 as compared to Rs 15.376 billion earned in the corresponding period in 2016. The company's earning per share increased to Rs 4.57 in the period under review against Rs 3.58 in the same period a year back. The board of directors of the company in its meeting held on Monday at Islamabad approved an interim cash dividend for the quarter at Rs 3.00 per share ie 30 percent. This is in addition to interim dividend already paid at Rs 1.75 per share ie 17.5 percent.

According to financial results sent to Pakistan Stock Exchange, the company's net sales increased to Rs 51.997 billion in this quarter against Rs 41.515 billion in the same quarter a year back. The company paid Rs 5.529 billion as royalty in this quarter against Rs 4.521 billion paid in the same account in same period a year back. The company's operating expenses stood at Rs 14.325 billion in this quarter against Rs 15.277 billion in the same period a year back while transporting expenses stood at Rs 419.806 million against Rs 426.223 million. The company's profit before taxation increased to Rs 27.639 billion in this quarter against Rs 19.668 billion in the same quarter a year back.

On six month basis, the company's profit after tax increased to Rs 36.671 billion translating earning per share of Rs 8.53 in the half year ended December 31, 2017 as compared to PAT of Rs 30.008 billion with EPS of Rs 6.98 in the same period in 2016.

Copyright Business Recorder, 2018