Oil and Gas Development Company Ltd announced financial results for the half year ending December 31st, 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 19th, 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 31st 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.