ISLAMABAD: The profitability of Oil and Gas Development Company Limited (OGDCL) — the country’s largest producer — plunged 33pc in the first half of the current fiscal year (FY25) owing mainly to forced closure of its wells, exchange rate appreciation and falling global crude prices.

Overall, profit after tax (PAT) amounted to Rs82.5 billion in the first half (July-December) of the current fiscal year compared to Rs123.3bn during the same period last year, showing a 33pc reduction, according to financial results for half-year ending Dec 31, 2024, approved on Friday by the board of directors of one of the few blue chip state-owned enterprises.

The profit before tax (PBT) of OGDCL stood at Rs155.8bn this year against Rs158.3bn last year. The company registered total sales revenue of Rs206.4bn in the first half of FY25 compared........

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