Oil and Gas Development Company Limited (OGDC), has reported a strong financial perf-ormance for the first quarter ended September 30, 2026, posting a profit after tax of Rs58.5 billion, represen-ting an impres-sive 53 per cent increase over Rs38.3 billion recorded in the cor-responding period last year.
Reflecting its robust earnings and financial position, the Company’s Board of Directors has approved a first interim cash dividend of Rs5 per share (50 per cent), the highest first-quarter dividend in OGDC’s history. This compares with Rs3.50 per share declared during the same period last year, demonstrat-ing the Company’s commitment to delivering value to its sharehold-ers while maintaining capacity for future investment.
OGDC’s net sales revenue in-creased by 38 per cent to Rs132.4 billion, compared with Rs96.2 bil-lion a year earlier. Earnings per share also registered substantial growth, rising to Rs13.60 from Rs8.91. The improved results were primarily driven by higher pro-duction volumes and stronger re-alised prices, despite continued forced production curtailments and the impact of the rupeĂ©s ap-preciation against the US dollar. The Company maintained 100 per cent collections against billings during the quarter, reflecting dis-ciplined financial management.
Beyond its corporate performance, OGDC continued to make a signifi-cant contribution to Pakistan’s economy. During the quarter, it contributed Rs82 billion to the na-tional exchequer through taxes, dividends, royalties and levies. Its indigenous oil and gas production also generated estimated foreign exchange savings of US$1.32 bil-lion through import substitution, underscoring the strategic impor-tance of domestic hydrocarbon re-sources in reducing reliance on imported energy.
Production growth remained a key achievement. Average daily net saleable crude oil production in-creased by 13.3 per cent to 35,494 barrels, while natural gas produc-tion rose by 14.2 per cent to 732 million cubic feet per day. LPG production also grew by 10.5 per cent, reaching 696 tonnes per day.
Chairman of the Board, Mr Zafar Masud, described the quarter as one of delivery, highlighting double-digit growth across all three production streams, full collections against billings and the record dividend. The results reflect OGDC’s continuing role not only as a major contributor to Pakistan’s energy supply but also as a stra-tegic national asset, supporting economic resilience, shareholder value and the coun-try’s long-term energy security.
