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OGDC: Oil & Gas Development Company Limited - 3rd Quarter Results update


OGC reported mixed results for Q3 2024. Earnings per share (EPS) came in at Rs. 11.1, accompanied by a cash dividend of Rs. 2 per share.

Although net income declined year-over-year and compared to the previous quarter, revenue saw a modest year-over-year increase. Notably, gross profit margin improved to 64%, exceeding the average of the past four quarters. This positive trend was partially offset by a rise in financial charges and a higher tax rate compared to the historical average. Despite the decline in net income, OGDC maintains a strong position within key Pakistani stock indices and holds significant reserves of the country's oil and gas resources. 

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