OGDCL posts Rs 49.2 billion profit after tax in first half fiscal year 2013

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Oil & Gas Development Company Limited (OGDCL) on Wednesday has announced its financial result for the quarter ended December 31, 2012 with an interim cash dividend at Rs 2.00 per share i.e. 20 percent.

This is in addition to interim dividend already paid at Rs 1.75 per share i.e. 17.5 percent.

According to notice issued by the KSE, the company booked profit after tax of Rs 49.2 billion (EPS of Rs 11.45) in 1HFY13 against earnings of Rs 41.6 billion (EPS of Rs 9.67) in 1HFY12, a growth of 18 percent YoY. Net sales for the company increased by 25 percent YoY in 1HFY13 on the back of (1) higher production from Nashpa, Tal and KPD and (2) nine percent YoY PKR depreciation against USD, while other income increased by 48 percent YoY owing to interest income booked on Rs 82 billion TFC subscribed in September 2012.

Company's authorities in their letter to KSE stated that the above entitlement would be paid to the shareholders whose names will appear in the register of members on April 15. The share transfer books of the company will be closed from April 16 to April 23, (both days inclusive). Transfers received at the share registrar office at the close of business, April 15 will be treated in time for the purpose of above entitlement to the transferees.

Courtesy: Business Recorder


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