OGDCL ANNOUNCED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED SEPTEMBER, 30, 2023.

Islamabad: The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on Ist November, 2023 at OGDCL Head Office, Islamabad announced the financial results for the first quarter ended 30th September, 2023 of fiscal year 2023-24. Net sales revenue clocked at Rs. 120.140 billion translating to Profit after tax of Rs. 49.037 billion and earnings per share of Rs. 11.40

The Board of Directors announced first interim cash dividend to its shareholders @ Rs. 1.60 per share i.e. 16 percent. The dividend will be paid to the shareholders whose names will appear in the Register of Members on November 13, 2023.

During the period under review, the Company paid Rs. 37.136 billion on account of Taxation. On the exploration and development side company recorded significant enhancement in seismic efforts and drilling activities.

The Board of Directors appreciated the efforts of the management for taking effective steps for the implementation of company’s aggressive exploration program.