Oil and Gas Development Company Ltd profits rise 22.2% to Rs. 36.671 billion

MG News | February 19, 2018 at 04:02 PM GMT+05:00

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Oil and Gas Development Company Ltd announced financial results for the half year ending December 31^st, 2017. The company reported net sales earned worth Rs. 95.960 billion during the half year against Rs. 81.081 billion same period last year; up 18.35% from last year.

Oil and Gas Development Company Ltd reported bottom-line profits worth Rs. 36.671 billion with an EPS of 8.53/share.

In addition to that, the company management during the board meeting held at Islamabad on February 19^th, 2018 also approved a final cash dividend of rupees 3 per share i.e. 30%. The dividend is in addition to the interim dividend already paid of Rupees 1.75 per share i.e. 17.5%.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Half Year Ended, December 31^st 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Sales - net	95,960,267	81,081,129	18.35%
Royalty	9,961,804	8,827,940	12.84%
Operating Expenses	28,279,623	28,356,449	-0.27%
Transportation Charges	835,357	836,190	-0.10%
Gross Profit	56,883,483	43,060,550	32.10%
Other Income	6,666,703	9,308,749	-28.38%
Exploration and prospecting expenditure	7,365,080	8,189,364	-10.07%
General and Administration Expenses	2,016,400	1,652,716	22.01%
Finance Costs	846,724	815,240	3.86%
Profit before Taxation	52,028,859	40,502,683	28.46%
Taxation	15,357,282	10,494,279	46.34%
Profit for the period	36,671,577	30,008,404	22.20%
EPS - Basic and diluted	8.53	6.98	22.21%

Company release on Earnings Report can be accessed here.

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