OGDCL earns Rs34.205bn profit


ISLAMABAD: The Oil and Gas Development Company Ltd (OGDCL) net sales generated total revenue of Rs. 86.186 billion, with profit after tax of Rs. 34.205 billion translating into earnings per share of Rs. 7.95 during first six months of current fiscal year.

The financial results for the half year ended December 31, 2015 were announced at the OGDCL’s board of directors (BoD) meeting here, said a press release.

The BoD announced second interim cash dividend of Rs. 1.20 per share (12pc), which would be paid to the shareholders whose names would appear in the Register of Members on March 14, 2016.

During the period under review, the company paid Rs. 13.870 billion on the account of taxes. On the exploration and development side a company recorded significant enhancement in seismic efforts and drilling activities.

The Board of Directors appreciated the efforts of the management for ensuring production enhancement and undertaking record exploratory work during the period.

Source:APP

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