The Board of Directors of Oil & Gas Development Company Ltd (OGDCL) meeting held on Friday at Karachi, announced the financial results for the third quarter ended 31st March, 2018. The Company's net sales revenue increased to Rs 147.712 billion compared to Rs 126.629 billion in the corresponding period of last year. Profit after tax stood at Rs 56.821 billion compared to Rs 47.594 billon in the same quarter. This translated into earnings per share of Rs 13.21.
The Board of Directors announced third interim cash dividend of Rs 2.75 per share (27.5 percent). The cash dividend will be paid to the shareholders whose names will appear in the Register of Members on Monday, June 04, 2018.
During the period under review, the Company paid Rs 23.343 billion on the account of Taxes.
On the exploration and development side, Company made significant progress in seismic and drilling activities. The Board of Directors appreciated the efforts of the management for ensuring production enhancement and significant exploratory work during the period.-PR