OGDCL sales for 1QFY17 rise 11% to Rs 43.96 billion

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MG News | October 26, 2017 at 11:27 AM GMT+05:00

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  • OGDCL Net Sales for the period increased by 11%, amounting to a total of 43.96 billion Rupees during the three months ended September, 30th 2017
  • Company’s gross profit for the period increased by 15.58%
  • OGDC reported a decline of 65% in exploration and prospecting expenditures
  • The Profit after tax for the period increased by 16.25% reaching 17 billion against last year’s profit of 14.63 billion rupees.
  • The company’s earnings per share reached 3.957 rupees vs 3.4 in the last quarter
  • After the approval of Board, the company recommended a first interim cash dividend of Rs. 1.75 per share at the rate of 17.5%
Comparison of Key Financials

Unconsolidated Profit and Loss Account - For Three Months Ended, September 30th 2017

Key Financials

2017

2016

% Change
 

Amounts in PKR ‘000

Sales - net

43,962,395

39,565,582

11.11%

Royalty

4,431,932

4,306,938

2.90%

Operating Expenses

13,954,404

13,079,054

6.69%

Transportation Charges

415,551

409,967

1.36%

Gross Profit

25,160,508

21,769,623

15.58%

Other Income

3,110,692

5,061,191

-38.54%

Exploration and Prospecting Expenditures

1,523,981

4,321,736

-64.74%

General and Admin: Expenses

1,112,739

728,065

52.84%

Finance Cost

418,439

403,075

3.81%

Workers' profit participation fund

1,283,643

1,096,554

17.06%

Share in profit for associate - net of taxation

456,810

553,134

-17.41%

Profit before taxation

24,389,208

20,834,518

17.06%

Taxation

7,379,681

6,202,964

18.97%

Profit for the quarter

17,009,527

14,631,554

16.25%

EPS - basic and diluted

3.95

 3.40

16.18%

Company release on Earnings Report can be accessed here.

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