Oil and Gas Development Company (ODGC) announced profit after tax (PAT) for 3QFY18 at Rs20.1 billion translating into earning per share (EPS) of Rs4.68 from profit Rs17.6bn and EPS Rs4.09bn in the same period last year. This 14.2 per cent growth in earnings was mainly attributed to higher oil prices.

The company also announced an interim cash dividend of Rs2.75 per share, taking 9MFY18 payout to Rs7.50 per share. Net sales for the quarter surged 13.8pc to Rs51.8bn from Rs45.5bn. During 3QFY18, other income soared 40.9pc to settle at Rs 4.6bn, which Taurus Securities attributed to foreign exchange gains following the devaluation of the rupee against the dollar.

DG Khan Cement: The company released its 3QFY18 unconsolidated PAT at Rs1.23bn (EPS: Rs2.82), down 37pc, from Rs1.95bn (EPS: Rs4.45) year-on-year.

This took the cumulative 9MFY18 profitability to Rs5.86bn (EPS: Rs13.37), lower by 9pc, from earnings of Rs6.45bn (EPS: Rs14.73) in the same period last year. Sales revenue for 3QFY18 fell 4pc to Rs7.61bn from Rs7.95bn as a 3pc increase in total despatches failed to cushion the impact of lower retention prices.

Published in Dawn, April 28th, 2018