The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on Thursday at OGDCL Head Office Islamabad announced the financial results for the first quarter ended 30th September, 2017. The company's net sales revenue increased to Rs 43.962 billion compared to Rs 39.565 billion in the corresponding period of last year. Profit after tax stood at Rs 17.009 billion compared to Rs 14.631 billon in the same quarter. When the earnings per share of Rs 3.95.
The Board of Directors announced first interim cash dividend of Rs 1.75 per share (17.5%). The cash dividend will be paid to the shareholders whose names will appear in the Register of Members on Tuesday, December 12, 2017. During the period under review, the company paid Rs 7.379 billion on the account of taxes. On the exploration and development side, company made significant progress in Seismic and Drilling aactivities The Board of Directors appreciated the efforts of the management for ensuring production enhancement and significant exploratory work during the period.-PR