ISLAMABAD - The Oil & Gas Development Company Limited (OGDCL) on Thursday claimed that it net sales revenue increased to Rs43.962 billion compared to Rs39.565 billion in the corresponding period of last year.

A press statement issued here stated that profit after tax stood at Rs17.009 billion compared to Rs14.631 billion in the same quarter. The statement further stated that the Board of Directors of OGDCL in its meeting held on October 25, 2017 announced the financial results for the first quarter ended September 30, 2017. The company’s net sales revenue increased to Rs43.962 billion compared to Rs39.565 billion in the corresponding period of last year.

Profit after tax stood at Rs17.009 billion compared to Rs14.631 billion in the same quarter.

The Board of Directors announced first interim cash dividend of Rs1.75 per share (17.5pc). The cash dividend will be paid to the shareholders whose names will appear in the Register of Members on Tuesday, December 12, 2017. During the period under review, the company paid Rs7.379 billion on the account of taxes. On the exploration and development side, the company made significant progress in seismic and drilling activities. The Board of Directors appreciated the efforts of the management for ensuring production enhancement and significant exploratory work during the period.