OGDCL earns 78.736bn profit during FY 2017-18

ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) has earned after tax profit of Rs 78.736 billion during the financial year 2017-18 ended on June 30, 2018, announces company’s Board of Directors (BoD) here on Friday.

The BoD said that the Company’s net sales revenue was registered as Rs 205.335 billion and per share earnings were Rs 18.31 during the financial year 2017-18.

During the period under review, the Company paid Rs 33.890 billion as taxes. On the exploration and development side company recorded significant enhancement in seismic efforts and drilling activities, said a press release.

The Board of Directors (BoD) appreciated the efforts of the management for ensuring production enhancement and significant exploratory work during the period.  The Board of Directors announced Final Cash Dividend for the year 2017-18 @ Rs 2.5 per share. The dividend will be paid to the shareholders whose names will appear in the Register of Members Wednesday, October 17, 2018.