Oil and Gas Development Company reports earnings of Rs13.60 per share in 1QFY27, supported by higher oil and gas production, improved sales and stronger cash holdings, while announces Rs5 dividend.

Karachi, October 30, 2026: Oil and Gas Development Company Limited (OGDC) reported a 53% year-on-year increase in profit to Rs58.5 billion during the first quarter of FY2027, compared with Rs38.3 billion in the corresponding period last year.

According to the company’s result review, earnings per share (EPS) increased to Rs13.60 from Rs8.91, while the company announced an interim cash dividend of Rs5 per share.

OGDC’s net sales rose 38% year-on-year to Rs132.4 billion, primarily driven by higher oil and gas production and improved international oil prices.

Oil production increased by 13%, while gas output grew 17%. Arab Light crude prices also increased 26% to $90.07 per barrel.

Higher liquefied petroleum gas (LPG) revenue further supported growth, with prices rising 17% and production increasing 11%.

Exploration expenses increased 55% year-on-year due to higher prospecting expenditures, although no dry wells were reported during the quarter or the corresponding period last year.

Other income grew 13% to Rs13.7 billion, supported by the company’s strong cash position.

Record cash reserves and dividend

OGDC’s cash and short-term investments reached a record Rs365.5 billion during 1QFY27, equivalent to approximately Rs84.98 per share, compared with Rs222 billion a year earlier.

The company’s trade receivables declined to Rs595.5 billion, while its recovery ratio stood at 99%.

Meanwhile, OGDC invested an additional Rs5 billion in Reko Diq and PIOL projects during the quarter.

The Rs5-per-share dividend represents a payout ratio of approximately 37% of quarterly earnings, providing shareholders with a cash return alongside the company’s improved financial performance.