OGDCL Announces Massive Profits for Q1’FY 2021-2022

The Board of Directors of the Oil & Gas Development Company Limited met on 28 October at its Head Office in Islamabad and announced the financial results for the first quarter that ended on 30th September of the fiscal year 2021-22.

The net sales revenue clocked at Rs. 71.530 billion, translating to a profit after tax of Rs. 33.630 billion and earnings of Rs. 7.82 per share.

The Board of Directors announced the first interim cash dividend to its shareholders at the rate of Rs. 1.75 per share. The dividend will be paid to the shareholders whose names will appear in the Register of Members on 9 November.

The company paid Rs. 18.640 billion on account of taxation during the period under review. It also recorded a significant enhancement in seismic efforts and drilling activities on the exploration and development side.

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