ISLAMABAD: Oil and Gas Development Company Ltd (OGDCL) on Friday announced that its profit after tax surged 52.7 per cent to Rs58.5 billion in the first quarter of 2026-27, supported by elevated international prices and higher oil and gas output.

As a consequence, the board of directors of the country’s largest exploration and production company announced an interim cash dividend of Rs5 per share, its highest-ever first-quarter payout to shareholders, up from Rs3.50 per share a year earlier.

The company’s net sales revenue rose 38pc to Rs132.4 billion from Rs96.2bn in the corresponding quarter, and PAT to Rs58.5bn from Rs38.3bn, lifting earnings per share to Rs13.60 from Rs8.91.

The improvement was driven by higher production volumes and stronger realised prices, which was partly offset by continued forced production curtailments and the appreciation of the rupee against the US dollar.

Collections against billings stood at 100pc for the quarter. OGDCL contributed Rs82bn to the national exchequer thro­ugh taxes, dividends, royalties and levies, and its indigenous oil and gas production saved the country an estimated $1.32­bn in foreign exchange through import substitution.

Published in Dawn, October 31st, 2026