The Oil and Gas Development Company Limited achieved a record after-tax profit of Rs124 billion during the last financial year, reflecting a 36 percent growth.
At the 17th Annual General Meeting held yesterday, it was reported that sales revenue increased by 15 percent to Rs257 billion.
The meeting, presided over by Zahid Muzaffar, Chairman of the Board of Directors, was attended by Iskander Mohammad Khan, Prince Ahmed Omar Ahmedzai, Rehmat Salam Khattak, Hamid Farooq, and Mohammad Rafi, the managing director and chief executive officer of OGDCL. The performance of the company for the fiscal year 2013-14 was reviewed, and new board members were elected.
The meeting also announced that earnings per share rose to Rs28.81. Additionally, the company contributed Rs132.26 billion to the national exchequer through corporate tax, dividends, royalties, general sales tax, and excise duty, among other revenues.
