OGDC: Earnings Release 2nd quarter - Dec 2022

OGDC earned Rs. 9.7 per share in the second quarter ending December 2022. The company also announced a cash dividend of Rs. 2.25 per share.

OGDC's twelve-month trailing EPS is now Rs. 37.2 and a cash dividend of Rs. 7.5, translating into a compelling PE of 2.3 and a dividend yield of 8.6%.

Profit after tax of Rs. 41.7 billion for the second quarter was less by 21% over the first quarter on lower production, higher costs, and lower other income. 

Comparing with Ist quarter ending Sep22; Sales declined by 8.6% and gross profit declined by 14% over Ist quarter, Other operating expenses increased by 1.5 times, Other income halved, negatively impacting Profit before tax over 26%.

This is despite the higher spread in crude and the favorable exchange rate. Declining production is a cause for concern

For the HY ending December 22, crude oil sales made up 46% of total revenue, and natural gas sales made up 43%.

OGDC: Oil & Gas Devl Corp	ttm	Dec22	Sep22	Jun22	Mar22	Dec21
		Q2 - 2023	Q1 - 2023	Q4 - 2022	Q3 - 2022	Q2 - 2022
PAT (Mill Rs.)	159,913	41,709	53,303	21,740	43,161	35,253
EPS (Rs.)	37.18	9.70	12.39	5.05	10.04	8.20
Cash Dividend (Rs./share)	7.5	2.25	1.75	2.5	1	2

OGDC		Dec22	Sep22	Jun22	Mar22	Dec21
Miilion Rupees		Q2 - 2023	Q1 - 2023	Q4 - 2022	Q3 - 2022	Q2 - 2022
Net Sales	-8.29%	97,223	106,012	95,196	89,104	79,633
Gross Profit / Loss	-14.22%	64,509	75,206	55,849	62,365	52,391
Operating Profit / Loss	-19.97%	58,148	72,653	64,002	58,329	46,789
Financial Charges	79.14%	1,466	818	607	592	578
Profit Before Taxation	-26.72%	64,640	88,207	62,571	64,779	52,902
Taxation		-22,931	-34,905	-40,831	-21,618	-17,649
Profit After Tax	159,913	41,709	53,303	21,740	43,161	35,253
EPS (Rs.)	37.18	9.70	12.39	5.05	10.04	8.20
Cash Dividend (Rs./share)	7.5	2.25	1.75	2.5	1	2

Also See: 

Notes from HY Report Dec 22
Brief Intro

OGDC Market Performance

Download Earning Release