OGDCL Reports 52.7% Profit Surge to Rs58.5 Billion in Q1 2026-27

ISLAMABAD: Oil and Gas Development Company Ltd (OGDCL) announced a remarkable 52.7% increase in its profit after tax, reaching Rs58.5 billion for the first quarter of the fiscal year 2026-27, driven by elevated international oil prices and enhanced production levels.

The company’s board of directors declared an interim cash dividend of Rs5 per share, marking the highest first-quarter payout in its history, up from Rs3.50 per share in the same period last year. OGDCL’s net sales revenue surged by 38% to Rs132.4 billion, compared to Rs96.2 billion in the previous year, with profit after tax climbing from Rs38.3 billion to Rs58.5 billion, resulting in earnings per share increasing from Rs8.91 to Rs13.60.

This significant improvement is attributed to higher production volumes and stronger realized prices, although it was partially offset by ongoing production curtailments and the appreciation of the Pakistani rupee against the US dollar. OGDCL reported a 100% collection rate against billings for the quarter, contributing Rs82 billion to the national exchequer through taxes, dividends, royalties, and levies, while its domestic oil and gas production saved the country an estimated $1.32 billion in foreign exchange.

Looking ahead, OGDCL is expected to continue its focus on optimizing production and managing costs amid fluctuating international prices. The company’s strong financial performance may bolster investor confidence and support further investments in the energy sector, which is crucial for Pakistan’s economic stability.