ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) has reported a 52.7 per cent increase in profit after tax to Rs58.5 billion for the first quarter of FY2026-27, driven by higher oil and gas production volumes and stronger international energy prices.
Thank you for reading this post, don't forget to subscribe!The company’s Board of Directors announced an interim cash dividend of Rs5 per share, the highest-ever first-quarter payout in OGDCL’s history, compared with Rs3.50 per share during the same period last year.
OGDCL’s net sales revenue increased by 38 per cent to Rs132.4 billion from Rs96.2 billion in the corresponding quarter of the previous year. Profit after tax also rose from Rs38.3 billion to Rs58.5 billion, while earnings per share improved to Rs13.60 from Rs8.91.
The improved financial performance was primarily supported by higher production volumes and stronger realised prices. However, continued forced production curtailments and the appreciation of the Pakistani rupee against the US dollar partially offset these gains.
The company reported a 100 per cent collection rate against its billings during the quarter, reflecting strong recovery performance.
OGDCL also contributed Rs82 billion to the national exchequer through taxes, dividends, royalties and levies during the period.
Furthermore, the company’s indigenous oil and gas production helped save an estimated $1.32 billion in foreign exchange through import substitution, highlighting its significant contribution to Pakistan’s energy security and economy.
