Oil and Gas Development Company Limited (OGDCL) has started the new financial year on a strong note, with its quarterly profit climbing nearly 53 percent as higher revenue boosted its earnings.
Pakistan’s largest oil and gas exploration company posted a consolidated profit of Rs58.5 billion for the quarter ended September 30, 2026, compared with Rs38.3 billion in the same period last year, according to its financial results submitted to the Pakistan Stock Exchange (PSX) on Friday.
The improved performance lifted earnings per share (EPS) to Rs13.60, up from Rs8.91 a year earlier.
Shareholders also have a bigger dividend to look forward to. OGDCL announced an interim cash dividend of Rs5 per share, equivalent to 50 percent, marking the highest first-quarter dividend in the company’s history.
Revenue remained the biggest contributor to the growth. The company earned Rs132.4 billion during the quarter, against Rs96.2 billion a year earlier, an increase of almost 38 percent.
The improvement also flowed through to gross profit, which rose 48 percent to Rs83.1 billion from Rs56.3 billion in the corresponding quarter last year.
OGDCL also received some support from its non-core income streams. Finance and other income increased to Rs13.8 billion from Rs12.2 billion, while its share of profit from associates rose to Rs3.94 billion against Rs3.17 billion a year earlier.
On the expense side, exploration and prospecting costs increased to Rs4.8 billion from Rs3.1 billion, reflecting a rise of nearly 55 percent. General and administrative expenses edged up to Rs2.2 billion from Rs2.1 billion.
Finance costs, however, offered some relief, declining to Rs1.16 billion from Rs1.22 billion in the same period last year.
Before income tax and final taxes, the company recorded a profit of Rs88 billion, compared with Rs62 billion a year earlier.
OGDCL was incorporated in October 1997 to take over oil and gas exploration, development and production activities previously carried out by the Oil and Gas Development Corporation, established in 1961. Its operations cover the exploration and development of hydrocarbon resources, as well as the production and sale of oil and gas.
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