OGDC posts Rs6.9bn profit

Published April 29, 2004

KARACHI, April 28: Oil & Gas Development Company Limited (OGDC) announced results for the third-quarter ended March 31, 2004 on Wednesday, posting an after tax profit of Rs6.9 billion. That worked out to an earning per share (eps) of Rs1.59.

Mohammad Sohail, head of research at InvestCap thought that the results were better than market expectation, which had visualized earning per share of around Rs1.52. But more importantly, the Board also declared second interim dividend at Rs1.75 per share.

"The market was either expecting nil dividend or if at all around Re1 per share", said Sohail. The share in OGDC lost 10 paisa to close at Rs68.70. The stock saw the day's highest turnover of 127 million shares.

At one point the OGDC stock had dropped to Rs66, but following the announcement of the results, the share recovered. According to analysts, it was yet another day of extreme volatility at the stock market, which at one point was down 140 points, but recovered in 10 minutes of trading following the announcement of OGDC results at 2:05 pm.

Opinion

Respite needed

Respite needed

All one can fear is a familiar accounting exercise that aims to extract a few more rupees from a narrow, weary economic base.

Editorial

Soft on traders
08 Jun, 2026

Soft on traders

THE Fixed Tax Asaan Scheme for traders with an annual turnover of up to Rs200m has been designed as a ‘pragmatic...
Ceasefire in name
Updated 08 Jun, 2026

Ceasefire in name

Both sides accuse the other of violating the truce that was supposed to halt the conflict in April, yet neither appears willing to abandon negotiations altogether.
Damaged childhoods
08 Jun, 2026

Damaged childhoods

CHILD abuse is so prevalent that the UN ranked Pakistan as the least safe country for children. Even so, more than...
JAAC ban
Updated 07 Jun, 2026

JAAC ban

Though the JAAC’s demands are open to scrutiny, banning any political organisation — as long as it remains committed to peaceful activism — is undemocratic.
GB election
Updated 07 Jun, 2026

GB election

It is important that whichever party ultimately forms the government puts the needs of the people of GB above everything else.
ODI win
07 Jun, 2026

ODI win

AT last, the Pakistan cricket team had something to celebrate: a One-day International series victory against...