OGDC declares record 1QFY27 dividend of Rs5 per share

October 30, 2026 (MLN): Oil and Gas Development Company Limited (PSX: OGDC) reported a 53% surge in its condensed interim consolidated net profit for the first quarter ended September 30, 2026 (1QFY27 / 3MFY27), reaching Rs58.51bn compared to Rs38.30bn in the corresponding period of the previous fiscal year.

Alongside the financial results, the board of directors declared an interim cash dividend of Rs5 per share (50%), representing the highest ever dividend declared by the company for the first quarter.

Reflecting this solid bottom-line growth, basic and diluted earnings per share (EPS) for the three-month period expanded 53% to Rs13.60, up from Rs8.91 recorded in 3MFY26.

The primary catalyst driving performance was a 38% expansion in top-line revenue from contracts with customers, which climbed to Rs132.42bn from Rs96.19bn in 3MFY26.

Field expenditures and state obligations increased as royalty payments rose 47% to Rs15.55bn (up from Rs10.60bn), operating expenses grew 14% to Rs32.92bn, and transportation charges stood at Rs872.15m.

Total direct deductions rose 24% to Rs49.35bn, allowing gross profit to surge 48% to Rs83.07bn compared to Rs56.28bn in the comparative quarter. Consequently, the company's gross profit margin expanded to 62.73% from 58.51% in 3MFY26.

On the operational side, overheads and explorations expanded alongside intensified exploration drives.

Exploration and prospecting expenditure rose 55% to Rs4.77bn against Rs3.08bn, general and administration expenses increased 6% to Rs2.23bn, and the charge for Workers' Profit Participation Fund (WPPF) rose 42% to Rs4.63bn.

Operational momentum was reinforced by finance and other income, which grew 13% to Rs13.77bn (up from Rs12.18bn), and an expanded share of profit in associates (net of tax) of Rs3.94bn (up 24% from Rs3.17bn).

Below the operational line, finance costs contracted 5% to Rs1.16bn compared to Rs1.22bn in 3MFY26.

Accounting for a statutory levy/final tax credit adjustment of Rs4.34m, profit before income tax climbed 42% to Rs87.99bn from Rs61.98bn.

Following a taxation charge of Rs29.48bn (up 24% from Rs23.68bn), Oil and Gas Development Company Limited concluded the first quarter with a consolidated net profit of Rs58.51bn

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