Oil and Gas Development Company Ltd profit surges to Rs58.5bn

Oil and Gas Development Company Ltd (OGDCL) posted profit after tax of Rs58.5 billion for the first quarter of 2026-27, up 52.7 per cent year on year, Dawn reported. The company attributed the increase to higher oil and gas production and stronger international prices. Its board declared an interim dividend of Rs5 per share, compared with Rs3.50 per share for the same period last year, marking its highest first-quarter payout.

Quarterly sales revenue increased 38 per cent to Rs132.4 billion from Rs96.2bn, while earnings per share rose to Rs13.60 from Rs8.91. Higher output and improved realised prices supported performance, though production curtailments and a stronger rupee against the US dollar partly offset those gains. OGDCL reported full collection of quarterly billings and said its taxes, dividends, royalties and levies contributed Rs82bn to the national exchequer. The company also estimated that domestic production avoided $1.32bn in foreign-exchange spending through import substitution.