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Business

October 27, 2010

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OGDC profits surge

OGDC profits surge
KARACHI: Oil and Gas Development Company (OGDC) has announced a net profit of Rs16.709 billion, translating into an earning per share (EPS) of Rs3.89 for the quarter ended on September 30 against a profit of Rs12.065 billion and an EPS of Rs2.81 during the corresponding quarter last year, a company statement said on Tuesday.
The net sales revenue of the company surged to Rs39.451 billion during the period under review from Rs31.825 billion last year.
However, other income of the company declined to Rs606.786 million against Rs798.705 million during the corresponding quarter last year.
The exploration and prospecting expenditure of the company doubled to Rs2.531 billion against Rs1.226 billion last year, it said.
The finance cost also surged to Rs355.066 million from Rs290.517 million last year.
The company did not announce any cash dividend, bonus shares or rights issue, the statement added.
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