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Oil & Gas Development Company profits rise by 19.39 percent to Rs. 56.821 billion

Oil & Gas Development Company (OGDCL) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales at Rs. 147.712 billion; up 16.65 percent from same period last year. Furthermore, the company’s Gross Profit rose to Rs. 86.557 billion from Rs. 68.399 billion last year during the outgoing nine months.                

On the expenses front, OGDCL reported 7.74 percent decrease in Exploration and Prospecting Expenditure Expenses, 10.61 percent increase in General & Administrative Expenses, whereas, Finance Costs incurred by the company went up by 4.05 percent during the period.

Furthermore, OGDCL also reported a 10.42 percent decrease in Other Income reaching Rs. 11.260 billion during the nine months.

Oil & Gas Development Company reported profit after taxation at Rs. 56.821 billion against Rs. 47.594 billion during the same period last year translating into an EPS of Rs. 13.21 vs. an EPS of Rs. 11.07 during the nine months ending March, 2017. 

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Nine Months Ended, March 30th 2018

Key Financials

March, 2018

March, 2017

% Change

 

Amounts in PKR’ 000

Sales – Net

147,712,496

126,629,700

16.65%

Royalty

15,641,903

13,761,338

13.67%

Operating Expenses

44,241,080

43,168,524

2.48%

Transportation Charges

1,271,844

1,300,236

-2.18%

Gross Profit

86,557,669

68,399,602

26.55%

Other Income

11,260,018

12,569,839

-10.42%

Exploration and Prospecting Expenditure

11,184,025

10,380,418

7.74%

General and Administration Expenses

3,120,941

2,821,561

10.61%

Finance Costs

1,285,652

1,235,626

4.05%

Profit before Taxation

80,164,720

64,519,698

24.25%

Taxation

23,343,468

16,924,890

37.92%

Profit after Taxation

56,821,252

47,594,808

19.39%

EPS – Basic and diluted

13.21

11.07

19.33%

Company release on Earnings Report can be accessed here.

Posted on: 2018-04-27T14:29:00+05:00
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