OGDCL profit jumps 53 percent in first quarter despite production cuts
Oil and Gas Development Company Limited reported a 53 percent profit increase for the first quarter of fiscal year 2026-27 at its Islamabad headquarters.
Financial results and dividend declaration
The board approved a profit after tax of Rs58.5 billion, marking a significant rise from the previous year. Directors also declared an interim cash dividend of Rs5 per share, which is the highest amount paid in the first quarter of the company's history.
Production constraints and revenue impact
Forced curtailments by SNGPL and UPL reduced daily net output by 1,254 barrels of crude oil and other volumes. These restrictions caused an estimated loss of Rs9.7 billion in sales revenue for the period.
Revenue growth and tax contribution
Net sales revenue climbed 38 percent to reach Rs132.4 billion compared to the same quarter last year. The company contributed Rs82 billion to the national exchequer through various payments including taxes and royalties.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Business Recorder
- Dawn
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