OGDCL reports Rs171b profit for Jul-Mar FY24

Oil and Gas Development Company Limited (OGDCL) has announced that it earned an after-tax profit of Rs171.10 billion with earnings per share of Rs39.78 in the first nine months of the current financial year. The board of directors of the company, in its meeting held on April 29, 2024, unveiled the financial results for the nine-month period ended March 31, 2024. Net sales of the oil and gas explorer came in at Rs348.16 billion during July-March 2023-24. The board declared an interim cash dividend of Rs2 per share ie, 20% for the quarter ended March 31, 2024. It was in addition to the interim dividend of Rs4.1 per share ie, 41% already paid to shareholders. The dividend will be paid to the shareholders whose names appear in the register of members on May 9, 2024. During the nine-month period, the company paid Rs68.497 billion in taxes while on the exploration and development side, it made significant progress in seismic efforts and drilling activities.