The drop in profit was seen despite a notable surge in net sales, according to a notice sent to the Pakistan Stock Exchange (PSX) on Wednesday. OGDC’s profit surges 28% with rise in crude price, fall in rupeeIn the same quarter (October-December) last year, the company booked a profit of Rs5.64 billion. Earnings per share amounted to Rs10.71 in the quarter under review, compared to Rs17.30 in the same quarter last year. The company paid taxes on profit at the rate of 38.29% (Rs2.16 billion) on profit before tax of Rs5.66 billion, compared to 31.01% (Rs2.53 billion) tax on the profit of Rs8.17 billion in the corresponding period. On the flip side, the company recorded net sales of Rs259.70 billion, which was 19% higher than Rs217.83 billion.

Source: The Express Tribune February 22, 2018 05:06 UTC