Oil & Gas Development Company limited (OGDC) is going to announce its results for1HFY15 on February 4, 2014. Below we are presenting our results anticipation.
Earning likely to down 25%
Company profit after taxation is expected to dip by 25% to Rs 50.74 billion (EPS: Rs 11.80) during 1HFY15 as against Rs 67.22 billion (EPS: Rs 15.63) in 1HFY14. Earning is expected to decline due to lower oil prices which declined by 17%, reduction in other income expected owing to lower exchange gains and likely sharp rise in exploration expenditure. In 2QFY15, we expect earning to drop by 33% Rs 22.43 billion (EPS: Rs5.22) compared to Rs 33.63 billion (EPS: Rs 7.82) in 2QFY14 due to record low oil prices and higher exploration cost
Cash dividend of Rs 2 likely to announce
We expect OGDC board to announce Rs 2/share in 2QFY15 along with results. Previously OGDC paid one interim dividends totaling to 25% (Rs 2.50/share) likely full year payout to Rs 4.50/share for the year ending June 30, 2015.