The Oil & Gas Development Company Limited (OGDCL) Board of Directors (BoD) meeting held Friday announced the financial results for the second quarter ended 31st December, 2018. The company's net sales revenue increased to Rs 126.897 billion compared to Rs 95.960 billion in the corresponding period of last year. Profit after tax stood at Rs 56.756 billion compared to Rs 36.671 billon in the same quarter. This translated into earnings per share of Rs 13.20, says a press release issued here.

The BoD announced second interim cash dividend of Rs 3.00 per share (30 percent). The cash dividend will be paid to the shareholders whose names will appear in the Register of Members on Thursday, April 12, 2019.

During the period under review, the company paid Rs 27.982 billion on the account of Taxes. On the exploration and development side, the company made significant progress in seismic and drilling activities. The Board of Directors appreciated the efforts of the management for ensuring production enhancement and significant exploratory work during the period.--PR

Copyright Business Recorder, 2019