CS-04-08 (PSX/LSE/SECP)
April 29, 2026
The General Manager,
Pakistan Stock Exchange Limited, Stock Exchange Building,
Stock Exchange Road,
KarachiLondon Stock Exchange Plc. 10 Paternoster Square, London EC4M 7LS
Tel: (44) 20 7334 8907
Subject: FINANCIAL RESULTS FOR THE PERIOD ENDED MARCH 31, 2026
Dear Sir,
We are pleased to inform you that the Board of Directors of our Company, in its meeting held on April 29, 2026 at 1400 hours at Islamabad, has approved as follows:
CASH DIVIDEND
An Interim cash dividend for the quarter ended March 31, 2026 @ Rs 3.25 per share i.e.
32.5 percent. This is in addition to interim dividend already paid @ 7.75 per share i.e 77.5 percent.
The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on May 11, 2026. The Share Transfer Books of the Company will be closed from May 12, 2026 to May 13, 2026 (both days inclusive). Transfers received at the CDC Share Registrar Services Limited, CDC House, 99-B, Block 'B', S.M.C.H.S., Main Shahrah-e-Faisal, Karachi-74400 at the close of business on May 11, 2026 will be treated in time for the purpose of above entitlement to the transferees.
The financial results of the Company are enclosed at Annexure-I and quarterly report of the Company for the period ended March 31, 2026 will be transmitted through PUCARS separately within the specified time.
Yours sincerely,
Encl as aboveCopy:
(Wasim Ahmad) Company Secretary
Executive Director/HOD, SECP, 63, NIC Building, Jinnah Avenue, Blue Area, Islamabad.
OIL AND GAS DEVELOPMENT COMPANY LIMITED
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION [UNAUDITED] AS AT 31 MARCH 2026
Unaudited | Audited | Unaudited | Audited | |||||
31 March | 30 June | 31 March | 30 June | |||||
2026 | 2025 | 2026 | 2025 | |||||
Note ---------------(Rupees '000)-------------- | Note ---------------(Rupees '000)-------------- | |||||||
SHARE CAPITAL AND RESERVES | NON CURRENT ASSETS | |||||||
Share capital | 43,009,284 | 43,009,284 | Property, plant and equipment | 8 | 126,684,782 | 97,861,516 | ||
Development and production assets | 9 | 167,339,841 | 139,011,750 | |||||
Reserves | 4 | 33,627,211 | 33,909,396 | Exploration and evaluation assets | 10 | 25,929,330 | 28,939,818 | |
319,953,953 | 265,813,084 | |||||||
Unappropriated profit | 1,330,657,884 | 1,271,319,016 | ||||||
1,407,294,379 | 1,348,237,696 | |||||||
Long term Investments in subsidiary and associates | 11 | 163,688,975 | 137,640,235 | |||||
Long term Investments at amortized cost | 12 | 20,285,645 | 20,285,645 | |||||
Long term loans- secured | 12,528,708 | 11,263,991 | ||||||
Long term advances, prepayments and other receivables | 5,488,968 | 4,021,001 | ||||||
Lease receivables 13 77,748,439 92,198,179 | ||||||||
599,694,688 | 531,222,135 | |||||||
NON CURRENT LIABILITIES | CURRENT ASSETS | |||||||
Deferred taxation | 79,952,087 | 75,920,108 | Stores, spare parts and loose tools | 29,594,392 | 29,693,368 | |||
Deferred employee benefits | 44,097,000 | 41,519,272 | Stock in trade | 1,610,124 | 942,938 | |||
Provision for decommissioning cost | 5 | 66,114,306 | 61,594,813 | Trade debts | 14 | 598,699,532 | 613,660,983 | |
Long term lease liability | - | 2,056,059 | Loans and advances | 24,807,228 | 22,284,662 | |||
190,163,393 | 181,090,252 | Deposits and short term prepayments | 4,176,328 | 2,582,403 | ||||
CURRENT LIABILITIES | Other receivables | 1,697,191 | 1,452,187 | |||||
Short term lease liability | 2,298,539 | 983,551 | Income tax- advance | 15 | 155,932,552 | 114,026,596 | ||
Trade and other payables | 6 | 118,917,632 | 123,760,613 | Current portion of long term investments | 23,511,749 | 84,520,671 | ||
Unpaid dividend | 576,064 | 331,720 | Current portion of lease receivables | 27,574,884 | 48,696,323 | |||
Unclaimed dividend | 200,650 | 202,238 | Other financial assets | 16 | 194,763,650 | 152,710,231 | ||
121,992,885 125,278,122 Cash and bank balances | 57,388,339 | 52,813,573 | ||||||
TOTAL LIABILITIES | 312,156,278 | 306,368,374 | 1,119,755,969 | 1,123,383,935 | ||||
1,719,450,657 1,654,606,070 1,719,450,657 1,654,606,070
CONTINGENCIES AND COMMITMENTS 7
The annexed notes 1 to 29 form an integral part of these interim financial statements.
Chief Financial Officer Chief Executive Director
OIL AND GAS DEVELOPMENT COMPANY LIMITED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS [UNAUDITED] FOR NINE MONTHS ENDED 31 MARCH 2026Three months ended 31 March | Nine months ended 31 March | ||||||
2026 | 2025 | 2026 | 2025 | ||||
Note | --------------------------------(Rupees '000)-------------------------------- | ||||||
Sales- net | 17 | 107,297,009 | 104,483,920 | 300,126,903 | 310,907,139 | ||
Royalty | (12,823,545) | (12,153,002) | (35,375,939) | (36,936,504) | |||
Operating expenses | (31,002,021) | (31,907,785) | (96,737,127) | (84,979,689) | |||
Transportation charges | (601,966) | (508,739) | (1,686,539) | (1,663,476) | |||
(44,427,532) (44,569,526) | (133,799,605) | (123,579,669) | |||||
Gross profit | 62,869,477 | 59,914,394 | 166,327,298 | 187,327,470 | |||
Finance and other income | 18 | 11,562,983 | 18,109,666 | 38,500,538 | 64,691,950 | ||
Exploration and prospecting expenditure | (6,003,646) | (6,783,868) | (17,902,080) | (14,670,682) | |||
General and administration expenses | (2,650,267) | (1,813,520) | (7,194,267) | (5,613,444) | |||
Finance cost | (1,391,812) | (1,534,614) | (3,814,504) | (4,474,754) | |||
Workers' profit participation fund | (3,417,834) | (3,541,071) | (9,252,859) | (11,742,094) | |||
Share of profit in associates -net of taxation | 3,969,937 | 2,929,367 | 9,140,185 | 7,581,349 | |||
Profit before taxation | 64,938,838 | 67,280,354 | 175,804,311 | 223,099,795 | |||
Final taxes -levies | 19 | (1,968) | - | (5,292) | - | ||
Profit before income tax | 64,936,870 | 67,280,354 | 175,799,019 | 223,099,795 | |||
Income tax | 20 | (22,692,913) | (20,131,112) | (60,535,814) | (93,493,887) | ||
Profit for the period | 42,243,957 | 47,149,242 | 115,263,205 | 129,605,908 | |||
Earnings per share -basic and diluted (Rupees) | 21 | 9.82 | 10.96 | 26.80 | 30.13 | ||
The annexed notes 1 to 29 form an integral part of these interim financial statements. | |||||||
Chief Financial Officer | Chief Executive | Director | |||||
Page 2
OIL AND GAS DEVELOPMENT COMPANY LIMITED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME [UNAUDITED] FOR NINE MONTHS ENDED 31 MARCH 2026 Three months ended 31 March Nine months ended 31 March 2026 2025 2026 2025 -------------------------------(Rupees '000)------------------------------- Profit for the period 42,243,957 47,149,242 115,263,205 129,605,908 Other comprehensive (loss) /incomeItems that will be subsequently reclassified to profit or loss:
Effects of translation of investment in a foreign associate | (73,813) | 69,340 | (332,759) | 77,840 | |||
Share of effect of translation of investment in foreign associated company of the associates -net of taxation | (235,390) | 259,813 | (1,036,926) | 289,891 | |||
Other comprehensive (loss) /income for the period | (309,203) | 329,153 | (1,369,685) | 367,731 |
Total comprehensive income for the period 41,934,754 47,478,395 113,893,520 129,973,639
The annexed notes 1 to 29 form an integral part of these interim financial statements.
Chief Financial Officer Chief Executive DirectorPage 3
OIL AND GAS DEVELOPMENT COMPANY LIMITED
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY [UNAUDITED] FOR NINE MONTHS ENDED 31 MARCH 2026
Share capital
Reserves | ||||
Capital reserves | Other reserves | |||
Capital reserve | Self insurance reserve | Share of capital redemption reserve fund in associate | Share of self insurance reserve in associate | Foreign translation currency reserve |
Unappropriated profit
Total equity
------------------------------------------------------------------------------(Rupees '000)-----------------------------------------------------------------------------
Balance as at 1 July 2024 | 43,009,284 | 836,000 | 19,300,000 | 2,118,000 | 920,000 | 15,147,066 | 1,169,165,868 | 1,250,496,218 | |||
Total comprehensive income for the period | |||||||||||
Profit for the period | - | - | - | - | - | - | 129,605,908 | 129,605,908 | |||
Other comprehensive income for the period | - | - | - | - | - | 367,731 | - | 367,731 | |||
Total comprehensive income for the period | - | - | - | - | - | 367,731 | 129,605,908 | 129,973,639 | |||
Transfer to self insurance reserve | - | - | 1,089,922 | - | - | - | (1,089,922) | - | |||
Charge to self insurance reserve | - | - | (2,422) | - | - | - | 2,422 | - | |||
Transfer to capital redemption reserve fund by an associated company | - | - | - | (2,118,000) | - | - | 2,118,000 | - | |||
Transactions with owners of the Company Distributions | |||||||||||
Final dividend 2024: Rs 4.00 per share | - | - | - | - | - | - | (17,203,714) | (17,203,714) | |||
First interim dividend 2025: Rs 3.00 per share | - | - | - | - | - | - | (12,902,785) | (12,902,785) | |||
Second interim dividend 2025: Rs 4.05 per share | - | - | - | - | - | - | (17,418,760) | (17,418,760) | |||
Total distributions to owners of the Company | - | - | - | - | - | - | (47,525,259) | (47,525,259) | |||
Balance as at 31 March 2025 | 43,009,284 | 836,000 | 20,387,500 | - | 920,000 | 15,514,797 | 1,252,277,017 | 1,332,944,598 | |||
Balance as at 1 July 2025 | 43,009,284 | 836,000 | 20,750,000 | - | 920,000 | 11,403,396 | 1,271,319,016 | 1,348,237,696 | |||
Total comprehensive income for the period | |||||||||||
Profit for the period | - | - | - | - | - | - | 115,263,205 | 115,263,205 | |||
Other comprehensive (loss) for the period | - | - | - | - | - | (1,369,685) | - | (1,369,685) | |||
Total comprehensive (loss) /income for the period | - | - | - | - | - | (1,369,685) | 115,263,205 | 113,893,520 | |||
Transfer to self insurance reserve | - | - | 1,088,783 | - | - | - | (1,088,783) | - | |||
Charge to self insurance reserve | - | - | (1,283) | - | - | - | 1,283 | - | |||
Transactions with owners of the Company Distributions | |||||||||||
Final dividend 2025: Rs 5.00 per share | - | - | - | - | - | - | (21,504,642) | (21,504,642) | |||
First interim dividend 2026: Rs 3.50 per share | - | - | - | - | - | - | (15,053,249) | (15,053,249) | |||
Second interim dividend 2026: Rs 4.25 per share | - | - | - | - | - | - | (18,278,946) | (18,278,946) | |||
Total distributions to owners of the Company | - | - | - | - | - | - | (54,836,837) | (54,836,837) | |||
Balance as at 31 March 2026 | 43,009,284 | 836,000 | 21,837,500 | - | 920,000 | 10,033,711 | 1,330,657,884 | 1,407,294,379 | |||
The annexed notes 1 to 29 form an integral part of these interim financial statements. |
Chief Financial Officer
Chief Executive
Director
Page 4
OIL AND GAS DEVELOPMENT COMPANY LIMITED
CONDENSED INTERIM STATEMENT OF CASH FLOWS [UNAUDITED] FOR NINE MONTHS ENDED 31 MARCH 2026
Cash flows from operating activities
Note
Nine months ended 31 March
2026 2025
------------(Rupees '000)------------
Profit before income tax 175,799,019 223,099,795
Adjustments for:
Depreciation 8,889,782 7,717,192
Amortization of development and production assets 9 15,918,504 13,678,088
Delayed payments surcharge from customers 18 - (8,503,459) Unwinding of loss on modification in terms of TFCs (7,966,500) (10,661,946)
Royalty 35,375,939 36,936,504
Workers' profit participation fund 9,252,859 11,742,094
Provision for deferred employee benefits 6,644,174 6,350,275
Unwinding of discount on provision for decommissioning cost 5 3,580,527 4,436,806
Interest income on investments and bank deposits 18 (14,108,312) (27,821,064)
Interest income on lease 18 (13,184,210) (14,749,037)
Unwinding of lease liability 226,289 -
Un-realized gain on investments at fair value through profit or loss 18 (775,867) (232,826)
Realized gain on investments at fair value through profit or loss 18 (1,867,343) -Exchange loss /(gain) -net 1,055,202 (2,361,191)
Dividend income from investment at fair value through profit or loss 18 (21,168) -Gain on disposal of property, plant and equipment (59,023) (151,803)
Share of profit in associates -net of taxation (9,140,185) (7,581,349)
Stores inventory written off 192,904 92,178
Provision for doubtful advances 2,828 -
Cost of dry and abandoned wells during the period 4,774,868 3,533,127 Reversal of trade debts provision (36,479) (2,250)
214,553,808 235,521,134
Changes in:
Stores, spare parts and loose tools (93,928) (4,430,656)
Stock in trade (667,186) 111,603
Trade debts 14,997,930 15,105,073
Deposits and short term prepayments (1,593,925) (4,173,392)
Loan and advances and other receivables (4,035,115) (11,198,562)
Trade and other payables 13,388,552 (15,454,143)
Cash generated from operations 236,550,136 215,481,057
(38,518,517) | (54,411,363) |
(13,151,806) | (16,279,483) |
(1,467,967) | 926,711 |
(68,423) | - |
(14,700,782) | (15,462,479) |
(98,608,828) | (114,400,126) |
Royalty paid
Deferred employee benefits paid
Long term advances, prepayments and other receivables
Decommissioning cost paid 5
Payment to workers' profit participation fund-net
Income taxes and levies paid 15
(166,516,323) (199,626,740)
Net cash generated from operating activities 70,033,813 15,854,317
Cash flows from investing activities
(81,202,153) | (46,464,917) |
111,023,128 | 53,059,473 |
19,177,912 | 11,790,953 |
7,288,398 | 3,545,394 |
- | 10,000,000 |
(37,001,270) | - |
(25,346,433) | (17,064,600) |
96,737 | 186,617 |
Capital expenditure Interest received
Lease payments received Dividends received Encashment of investment
Investments at fair value through profit or loss - net Investment in associates
Proceeds from disposal of property, plant and equipment
Net cash (used in) /generated from investing activities | (5,963,681) | 15,052,920 | |
Cash flows from financing activities Dividends paid | (54,594,081) | (87,839,529) | |
Lease payments made | (921,019) | - | |
Net cash used in financing activities | (55,515,100) | (87,839,529) | |
Net increase in cash and cash equivalents | 8,555,031 | (56,932,292) | |
Cash and cash equivalents at beginning of the period | 204,923,032 | 258,613,241 | |
Effect of movements in exchange rate on cash and cash equivalents | (1,571,326) | 676,362 | |
Cash and cash equivalents at end of the period | 23 | 211,906,737 | 202,357,311 |
The annexed notes 1 to 29 form an integral part of these interim financial statements. |
Chief Financial Officer Chief Executive Director
Page 5
OIL AND GAS DEVELOPMENT COMPANY LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION [UNAUDITED]
AS AT 31 MARCH 2026 | ||||||||
Unaudited | Audited | Unaudited | Audited | |||||
31 March | 30 June | 31 March | 30 June | |||||
2026 | 2025 | 2026 | 2025 | |||||
Note ---------------(Rupees '000)-------------- | Note ---------------(Rupees '000)-------------- | |||||||
SHARE CAPITAL AND RESERVES | NON CURRENT ASSETS | |||||||
Share capital | 43,009,284 | 43,009,284 | Property, plant and equipment | 8 | 126,684,782 | 97,861,516 | ||
Development and production assets | 9 | 167,339,841 | 139,011,750 | |||||
Reserves | 4 | 33,627,211 | 33,909,396 | Exploration and evaluation assets | 10 | 25,929,330 | 28,939,818 | |
319,953,953 | 265,813,084 | |||||||
Unappropriated profit 1,330,656,284 1,271,317,916 | ||||||||
1,407,292,779 | 1,348,236,596 | |||||||
Long term Investments in subsidiary and associates | 11 | 163,688,875 | 137,640,135 | |||||
Long term Investments at amortized cost | 12 | 20,285,645 | 20,285,645 | |||||
Long term loans- secured | 12,528,708 | 11,263,991 | ||||||
Long term advances, prepayments and other receivables | 5,488,968 | 4,021,001 | ||||||
Lease receivables 13 77,748,439 92,198,179 | ||||||||
599,694,588 | 531,222,035 | |||||||
NON CURRENT LIABILITIES | CURRENT ASSETS | |||||||
Deferred taxation | 79,952,087 | 75,920,108 | Stores, spare parts and loose tools | 29,594,392 | 29,693,368 | |||
Deferred employee benefits | 44,097,000 | 41,519,272 | Stock in trade | 1,610,124 | 942,938 | |||
Provision for decommissioning cost | 5 | 66,114,306 | 61,594,813 | Trade debts | 14 | 598,699,532 | 613,660,983 | |
Long term lease liability | - | 2,056,059 | Loans and advances | 24,807,228 | 22,284,662 | |||
190,163,393 | 181,090,252 | Deposits and short term prepayments | 4,176,328 | 2,582,403 | ||||
CURRENT LIABILITIES | Other receivables | 1,695,591 | 1,452,187 | |||||
Short term lease liability | 2,298,539 | 983,551 | Income tax- advance | 15 | 155,932,552 | 114,026,596 | ||
Trade and other payables | 6 | 118,917,632 | 123,761,613 | Current portion of long term investments | 23,511,749 | 84,520,671 | ||
Unpaid dividend | 576,064 | 331,720 | Current portion of lease receivables | 27,574,884 | 48,696,323 | |||
Unclaimed dividend | 200,650 | 202,238 | Other financial assets | 16 | 194,763,650 | 152,710,231 | ||
121,992,885 125,279,122 Cash and bank balances | 57,388,439 | 52,813,573 | ||||||
TOTAL LIABILITIES | 312,156,278 | 306,369,374 | 1,119,754,469 | 1,123,383,935 | ||||
1,719,449,057 1,654,605,970 1,719,449,057 1,654,605,970
CONTINGENCIES AND COMMITMENTS 7
The annexed notes 1 to 29 form an integral part of these interim consolidated financial statements.
Chief Financial Officer Chief Executive Director
OIL AND GAS DEVELOPMENT COMPANY LIMITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS [UNAUDITED] FOR NINE MONTHS ENDED 31 MARCH 2026Three months ended 31 March | Nine months ended 31 March | |||||||
2026 | 2025 | 2026 | 2025 | |||||
Note | ---------------------------------(Rupees '000)--------------------------------- | |||||||
Sales- net | 17 | 107,297,009 | 104,483,920 | 300,126,903 | 310,907,139 | |||
Royalty | (12,823,545) | (12,153,002) | (35,375,939) | (36,936,504) | ||||
Operating expenses | (31,002,021) | (31,907,785) | (96,737,127) | (84,979,689) | ||||
Transportation charges | (601,966) | (508,739) | (1,686,539) | (1,663,476) | ||||
(44,427,532) | (44,569,526) | (133,799,605) | (123,579,669) | |||||
Gross profit | 62,869,477 | 59,914,394 | 166,327,298 | 187,327,470 | ||||
Finance and other income | 18 | 11,562,983 | 18,109,666 | 38,500,538 | 64,691,950 | |||
Exploration and prospecting expenditure | (6,003,646) | (6,783,868) | (17,902,080) | (14,670,682) | ||||
General and administration expenses | (2,650,767) | (1,813,520) | (7,194,767) | (5,613,444) | ||||
Finance cost | (1,391,812) | (1,534,614) | (3,814,504) | (4,474,754) | ||||
Workers' profit participation fund | (3,417,834) | (3,541,071) | (9,252,859) | (11,742,094) | ||||
Share of profit in associates -net of taxation | 3,969,937 | 2,929,367 | 9,140,185 | 7,581,349 | ||||
Profit before taxation | 64,938,338 | 67,280,354 | 175,803,811 | 223,099,795 | ||||
Final taxes -levies | 19 | (1,968) | - | (5,292) | - | |||
Profit before income tax | 64,936,370 | 67,280,354 | 175,798,519 | 223,099,795 | ||||
Income tax | 20 | (22,692,913) | (20,131,112) | (60,535,814) | (93,493,887) | |||
Profit for the period | 42,243,457 | 47,149,242 | 115,262,705 | 129,605,908 | ||||
Earnings per share- basic and diluted (Rupees) | 21 | 9.82 10.96 26.80 30.13 | ||||||
The annexed notes 1 to 29 form an integral part of these interim consolidated financial statements. | ||||||||
Chief Financial Officer | Chief Executive | Director | ||||||
Page 2
OIL AND GAS DEVELOPMENT COMPANY LIMITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME [UNAUDITED] FOR NINE MONTHS ENDED 31 MARCH 2026 Three months ended 31 March Nine months ended 31 March 2026 2025 2026 2025 -----------------------------(Rupees '000)----------------------------- Profit for the period 42,243,457 47,149,242 115,262,705 129,605,908 Other comprehensive (loss) /incomeItems that will be subsequently reclassified to profit or loss:
Effects of translation of investment in a foreign associate | (73,813) | 69,340 | (332,759) | 77,840 | |||
Share of effect of translation of investment in foreign | |||||||
associated company of the associates -net of taxation | (235,390) | 259,813 | (1,036,926) | 289,891 | |||
Other comprehensive (loss) /income for the period | (309,203) | 329,153 | (1,369,685) | 367,731 |
Total comprehensive income for the period 41,934,254 47,478,395 113,893,020 129,973,639
The annexed notes 1 to 29 form an integral part of these interim consolidated financial statements.
Chief Financial Officer Chief Executive DirectorPage 3
OIL AND GAS DEVELOPMENT COMPANY LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY [UNAUDITED] FOR NINE MONTHS ENDED 31 MARCH 2026
Share capital
Reserves | ||||
Capital reserves | Other reserves | |||
Capital reserve | Self insurance reserve | Share of capital redemption reserve fund in associate | Share of self insurance reserve in associate | Foreign translation currency reserve |
Unappropriated profit
Total equity
-----------------------------------------------------------------------------(Rupees '000)----------------------------------------------------------------------------
Balance as at 1 July 2024 | 43,009,284 | 836,000 | 19,300,000 | 2,118,000 | 920,000 | 15,147,066 | 1,169,165,868 | 1,250,496,218 | |||
Total comprehensive income for the period | |||||||||||
Profit for the period | - | - | - | - | - | - | 129,605,908 | 129,605,908 | |||
Other comprehensive income for the period | - | - | - | - | - | 367,731 | - | 367,731 | |||
Total comprehensive income for the period | - | - | - | - | - | 367,731 | 129,605,908 | 129,973,639 | |||
Transfer to self insurance reserve | - | - | 1,089,922 | - | - | - | (1,089,922) | - | |||
Charge to self insurance reserve | - | - | (2,422) | - | - | - | 2,422 | - | |||
Transfer to capital redemption reserve fund by an associated company | - | - | - | (2,118,000) | - | - | 2,118,000 | - | |||
Transactions with owners of the Parent's Company Distributions | |||||||||||
Final dividend 2024: Rs 4.00 per share | - | - | - | - | - | - | (17,203,714) | (17,203,714) | |||
First interim dividend 2025: Rs 3.00 per share | - | - | - | - | - | - | (12,902,785) | (12,902,785) | |||
Second interim dividend 2025: Rs 4.05 per share | - | - | - | - | - | - | (17,418,760) | (17,418,760) | |||
Total distributions to owners of the Parent's Company | - | - | - | - | - | - | (47,525,259) | (47,525,259) | |||
Balance as at 31 March 2025 | 43,009,284 | 836,000 | 20,387,500 | - | 920,000 | 15,514,797 | 1,252,277,017 | 1,332,944,598 | |||
Balance as at 1 July 2025 | 43,009,284 | 836,000 | 20,750,000 | - | 920,000 | 11,403,396 | 1,271,317,916 | 1,348,236,596 | |||
Total comprehensive income for the period | |||||||||||
Profit for the period | - | - | - | - | - | - | 115,262,705 | 115,262,705 | |||
Other comprehensive (loss) for the period | - | - | - | - | - | (1,369,685) | - | (1,369,685) | |||
Total comprehensive (loss) /income for the period | - | - | - | - | - | (1,369,685) | 115,262,705 | 113,893,020 | |||
Transfer to self insurance reserve | - | - | 1,088,783 | - | - | - | (1,088,783) | - | |||
Charge to self insurance reserve | - | - | (1,283) | - | - | - | 1,283 | - | |||
Transactions with owners of the Parent's Company | |||||||||||
Distributions | |||||||||||
Final dividend 2025: Rs 5.00 per share | - | - | - | - | - | - | (21,504,642) | (21,504,642) | |||
First interim dividend 2026: Rs 3.50 per share | - | - | - | - | - | - | (15,053,249) | (15,053,249) | |||
Second interim dividend 2026: Rs 4.25 per share | - | - | - | - | - | - | (18,278,946) | (18,278,946) | |||
Total distributions to owners of the Parent's Company | - | - | - | - | - | - | (54,836,837) | (54,836,837) | |||
Balance as at 31 March 2026 | 43,009,284 | 836,000 | 21,837,500 | - | 920,000 | 10,033,711 | 1,330,656,284 | 1,407,292,779 |
The annexed notes 1 to 29 form an integral part of these interim consolidated financial statements.
Chief Financial Officer
Chief Executive
Director
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OIL AND GAS DEVELOPMENT COMPANY LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS [UNAUDITED] FOR NINE MONTHS ENDED 31 MARCH 2026
Cash flows from operating activities
Note
Nine months ended 31 March
2026 2025
------------(Rupees '000)------------
Profit before income tax 175,798,519 223,099,795
Adjustments for:
Depreciation 8,889,782 7,717,192
Amortization of development and production assets 9 15,918,504 13,678,088
Delayed payments surcharge from customers 18 - (8,503,459) Unwinding of loss on modification in terms of TFCs (7,966,500) (10,661,946)
Royalty 35,375,939 36,936,504
Workers' profit participation fund 9,252,859 11,742,094
Provision for deferred employee benefits 6,644,174 6,350,275
Unwinding of discount on provision for decommissioning cost 5 3,580,527 4,436,806
Interest income on investments and bank deposits 18 (14,108,312) (27,821,064)
Interest income on lease 18 (13,184,210) (14,749,037)
Unwinding of lease liability 226,289 -
Un-realized gain on investments at fair value through profit or loss 18 (775,867) (232,826)
Realized gain on investments at fair value through profit or loss 18 (1,867,343) -Exchange (gain) /loss -net 1,055,202 (2,361,191)
Dividend income from investment at fair value through profit or loss 18 (21,168) -Gain on disposal of property, plant and equipment (59,023) (151,803)
Share of profit in associates -net of taxation (9,140,185) (7,581,349)
Stores inventory written off 192,904 92,178
Provision for doubtful advances 2,828 -
Cost of dry and abandoned wells during the period 4,774,868 3,533,127 Reversal of trade debts provision (36,479) (2,250)
214,553,308 235,521,134
Changes in:
Stores, spare parts and loose tools (93,928) (4,430,656)
Stock in trade (667,186) 111,603
Trade debts 14,997,930 15,105,073
Deposits and short term prepayments (1,593,925) (4,173,392)
Loan and advances and other receivables (4,035,115) (11,198,562) Trade and other payables 13,389,052 (15,454,143)
Cash generated from operations 236,550,136 215,481,057
(38,518,517) | (54,411,363) |
(13,151,806) | (16,279,483) |
(1,467,967) | 926,711 |
(68,423) | - |
(14,700,782) | (15,462,479) |
(98,608,828) | (114,400,126) |
Royalty paid
Deferred employee benefits paid
Long term advances, prepayments and other receivables
Decommissioning cost paid 5
Payment to workers' profit participation fund-net
Income taxes and levies paid 15
(166,516,323) (199,626,740)
Net cash generated from operating activities 70,033,813 15,854,317
Cash flows from investing activities
(81,202,153) | (46,464,917) |
111,023,128 | 53,059,473 |
19,177,912 | 11,790,953 |
7,288,398 | 3,545,394 |
- | 10,000,000 |
(37,001,270) | - |
(25,346,333) | (17,064,600) |
96,737 | 186,617 |
Capital expenditure Interest received
Lease payments received Dividends received Encashment of Investment
Investments at fair value through profit or loss - net Investment in associates
Proceeds from disposal of property, plant and equipment
Net cash (used in)/ generated from investing activities | (5,963,581) | 15,052,920 | |
Cash flows from financing activities Dividends paid | (54,594,081) | (87,839,529) | |
Lease payments made | (921,019) | - | |
Net cash used in financing activities | (55,515,100) | (87,839,529) | |
Net increase /(decrease) in cash and cash equivalents | 8,555,131 | (56,932,292) | |
Cash and cash equivalents at beginning of the period | 204,923,032 | 258,613,241 | |
Effect of movements in exchange rate on cash and cash equivalents | (1,571,326) | 676,362 | |
Cash and cash equivalents at end of the period | 23 | 211,906,837 | 202,357,311 |
The annexed notes 1 to 29 form an integral part of these interim consolidated financial statements. |
Chief Financial Officer Chief Executive Director
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