OGDCL reported a strong quarterly profit of Rs41 billion
The Oil and Gas Development Company Ltd (OGDCL) reported a strong quarterly profit of Rs41 billion, though it cited a Rs15 billion loss due to financial and operational decisions by three energy companies.
These include the public sector-listed entities Mari Petroleum Company Ltd (MPCL) and Sui Northern Gas Pipelines Ltd (SNGPL), as well as Uch Power Ltd, which collectively impacted OGDCL’s earnings for the quarter ending September 30.
The company announced net sales revenue of Rs106.01 billion, with a profit-after-tax of Rs41.019 billion, resulting in earnings per share (EPS) of Rs9.54. Without the influence of external decisions, profits would have reached approximately Rs55.75 billion.
In response, the OGDCL board approved a first interim cash dividend of Rs3 per share (30%), an increase from Rs1.60 per share (16%) during the same period last year. The board had previously recommended a final cash dividend of Rs4 per share for the fiscal year ending June 30, 2024.
