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