KARACHI, Aug 20: Oil and Gas Development Co Ltd (OGDCL), Pakistan’s biggest-listed firm, posted a worse-than-expected 8.8 per cent rise in full-year net profit on Wednesday, missing analysts’ forecasts despite stronger sales.

OGDC said its full-year net profit for the fiscal year ending June stood at Rs49.6 billon ($669.4 million), against average forecasts by seven analysts for a net profit of Rs50.1 billion in Reuters’ estimates.

OGDC earned a net profit of Rs45.6 billion last year.

OGDC shares are flat this year, outperforming a 25 per cent slide in the benchmark Karachi Stock Exchange index. —Reuters