OGDC reported a profit after tax (PAT) of PKR 127 billion (Earnings Per Share: PKR 29.6) for the fourth quarter of FY26, marking a 3.2-fold increase year-on-year (YoY) and a threefold increase quarter-on-quarter (QoQ). This result exceeded expectations, primarily due to a substantial reversal of tax provisions in the final quarter. Consequently, the total PAT for FY26 stood at PKR 242.4 billion (EPS: PKR 56.4), a 43% increase from PKR 169.9 billion in FY25. The company declared a final dividend per share (DPS) of PKR 6.0, bringing the cumulative DPS for FY26 to PKR 17.0, reflecting a 13% YoY increase.
Net sales surged to PKR 149.1 billion, up 65% YoY and 39% QoQ, driven by higher oil prices and growth in hydrocarbon production. Notably, the average Arab Light crude oil price was US$103.9 per barrel, a 52% increase YoY, amid ongoing geopolitical conflicts. Additionally, the company’s oil production reached 35,370 barrels per day (bpd), a 24% YoY increase, while gas production was 723 million cubic feet per day (mmcfd), up 25% YoY during the fourth quarter.
Exploration expenses increased sharply to PKR 10.9 billion, representing a 62% YoY rise, largely due to intensified activities in the Kohat, Kunnar, and TAY blocks during the period. Operating expenses also rose by 44% YoY to PKR 51.4 billion, resulting in an operating profit of PKR 69.6 billion, a 62% YoY increase for the final quarter.
Courtesy: AKD Research
