Oil and Gas Development Company Ltd. reported first-quarter profit rose 53%, driven by higher oil and gas production and a … Read More The post OGDC Profit Surges 53% to Rs. 58.5 Billion as Cash Reserve Hits Record High appeared first on ProPakistani .
OGDC, Pakistan's largest oil and gas explorer, reported a 53% increase in first-quarter profit to Rs. 58.5 billion, driven by higher oil and gas production and a surge in income from its growing cash reserve. The company's net income for the quarter ended September rose to Rs. 58.5 billion from Rs. 38.3 billion a year earlier, with earnings per share reaching Rs.
13.60 compared to Rs. 8.91. Cash and short-term investments swelled to a record Rs. 365.5 billion, or Rs. 84.98 per share, from Rs. 222 billion, or Rs. 52 per share, a year ago.
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