OGDCL announces record Rs242.4bn profit for fiscal year 2025-26

Oil and Gas Development Company Limited (OGDCL) reported a record profit of Rs242.4 billion after tax for fiscal 2025-26, according to Dawn, which marks a 43 per cent increase on the previous year. A large part of the gain came from a windfall as oil prices surged worldwide after the US-Israel attack on Iran. Earnings per share rose to Rs56.35 from Rs39.50 in the prior year.

Profit after tax for the first nine months was weaker, at Rs115bn against Rs130bn a year earlier, a decline of around 12pc. The price spike that followed the attack on Iran produced around Rs128bn in post-tax profit by itself, making it the company's highest quarterly profit. The board also decided on a final cash payout of Rs6 per share, lifting the yearly total to Rs17 per share.

The company contributed Rs187bn to the national exchequer through taxes, royalties and other state levies. Its share price rose 52 per cent over the year, compared with a 44 per cent gain in the KSE-100 index. Dawn also reported nine discoveries that lifted proven and probable reserves by 120 MMBOE, along with a first major lithium find within geothermal brine in Khairpur district of Sindh.