The after tax profit of Oil and Gas Development Company (OGDC) has increased to Rs 25.655 billion in the quarter ended September 30, 2012 as compared to Rs 21.915 billion earned in the corresponding period in 2011. The company's earning per share has increased to Rs 5.97 in the period under review against Rs 5.10 in the same period last year.
The board of directors of the company in its meeting held on Tuesday at Islamabad approved first interim cash dividend for the year 2012-13 on the basis of accounts for the period ended September 30, 2012 at Rs 1.75 per share ie 17.5 percent. According to the financial results sent to the Karachi Stock Exchange, the company net sales increased to Rs 53.795 billion in this quarter against Rs 44.686 billion in the same quarter last year.
The company paid Rs 6.256 billion as royalty in this period against Rs 5.115 in the same quarter last year while operating expenses increased to Rs 8.789 billion against Rs 7.230 billion and transportation charges stood at Rs 523.398 million against Rs 435.928 million. The company's profit before taxation increased to Rs 36.443 billion in this quarter against Rs 31.097 billion in the same quarter last year.