ISLAMABAD-The Board of Directors of Oil & Gas Development Company Limited (OGDCL), in its meeting held on 22nd September at Islamabad, announced the financial results for the year ended June, 30, 2022 of fiscal year 2021-22. Net sales revenue clocked at Rs.335.463 billion translating to profit after tax of Rs. 133.783 billion, showing an increase of 56 percent compared to a profit of Rs. 91.534 billion in the same period of last year and earnings per share of the company clocked at Rs. 31.11 from Rs. 21.28.

The Board of Directors announced final cash dividend for the year 2021-2022 on the basis of accounts for the period ended June 30, 2022 @ 2.50 per share i.e. 25 percent. This is an addition to interim dividends already paid @ Rs.4.75 per share i.e. 47.50 percent to its shareholders. The dividend will be paid to the shareholders whose names will appear in the Register of Members on Monday, October 17, 2022. The share transfer books of the company will be closed from Tuesday, October 18, 2022 to Tuesday, October 25, 2022.

During the period under review, the company paid Rs. 98.737 billion on account of taxation. The annual general meeting (AGM) of shareholders of the company will be held on Tuesday, October 25, 2022 at 09.00 hours at Islamabad. On the exploration and development side company recorded significant enhancement in seismic efforts and drilling activities. The Board of Directors appreciated the efforts of the management for taking effective steps for the implementation of company’s aggressive exploration program.