Oil and Gas Development Company’s (OGDC) saw its profit jump by 50 percent to Rs 64.627 billion in third quarter of fiscal year that ended March 31, 2023, due to spike in oil prices and rupee depreciation. Company registered profit of Rs 43.16 billion in same period last year (SPLY), according to profit or loss accounts filed with PSX.

Resultantly, earnings per share (EPS) increased to Rs 15.03 in period under review compared to Rs 10.04 in SPLY. Company’s board of directors recommended an interim cash dividend of Rs 1.8 per share i.e. 18 percent. This is in addition to interim dividends already paid at Rs 4 per share i.e. 40 percent. Company’s net sales surged by 19 percent to Rs 105.91 billion during third quarter of current fiscal year, compared to Rs 89.10 billion recorded in prior year.

Published in The Daily National Courier, April, 28 2023

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