KARACHI: Oil and Gas Development Company Limited (OGDCL) recorded a 50 percent year-on-year increase in its profit to Rs85.3 billion for the nine months period ended on March 31, 2019, translating into earnings per share (EPS) of Rs19.84, a bourse filing said on Friday.[the_ad id=”32940″]OGDCL earned Rs56.8 billion with EPS of Rs13.21 in the corresponding period a year earlier, the company said in a statement to the Pakistan Stock Exchange (PSX).
The energy giant announced an interim cash dividend of Rs2.75/share for the third quarter, which was in addition to Rs5.75/share already paid.
The company’s sales soared to Rs192 billion in the July-March period compared to Rs147.7 billion in the corresponding period a year earlier. Other income rose to Rs17.8 billion in the nine months period compared to Rs11.2 billion in the same period a year earlier. Exploration and prospecting expenditures fell to Rs6.5 billion from Rs11.1 billion. Finance cost remained flat at Rs1.2 billion during the period under review.
OGDL’s profit increased to Rs28.5 billion for the third quarter ended on March 31, 2019 from Rs20.1 billion in the corresponding period a year earlier. EPS clocked in at Rs6.64 in 3QFY2019 compared to Rs4.68 in 3QFY2018.