The profit after tax of Oil and Gas Development Company (OGDC) increased to Rs 41.572 billion in the half year period ended December 31, 2011, as compared to Rs 31.598 billion earned in the corresponding period in 2010. The Company''s earning per share increased to Rs 9.67 in the period under review against Rs 7.35 in the same period a year back.
The board of directors of the Company in its meeting held on Thursday approved an interim cash dividend for the quarter ended December 31, 2011, at Rs 1.50 per share, ie, 15 percent. This is in addition to interim dividend already paid at Rs 1.50 per share, ie, 15 percent.
According to the financial results sent to Karachi Stock Exchange, the Company''s net sales increased to Rs 88.680 billion in the half year period in 2011 against Rs 81.090 billion in the same period in 2010. The Company paid Rs 10.151 billion as royalty in this period against Rs 9.297 billion in the same period last year. The Company''s operating expenses increased to Rs 15.427 billion against Rs 12.402 billion while transportation charges slightly reduced to Rs 975.439 million against Rs 978.639 million.
The Company''s other income increased to Rs 4,622.064 million in this period against Rs 919.167 million last year. The exploration and prospecting expenditure reduced to Rs 1.780 billion against Rs 3.536 billion while general and administrative expenses declined to Rs 994.443 million against Rs 1,257.240 million. The workers'' profit participation fund increased to Rs 3.159 billion against Rs 2.693 billion. The Company''s profit before taxation increased to Rs 60.025 billion in the half year period in 2011 against Rs 51.170 billion in the same period in 2010.
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