External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Oil and Gas Development Company (OGDC) announced its financial results for 1QFY26, reporting earnings of Rs38.3bn (EPS: Rs8.91), down 7% YoY and 5% QoQ.</li><li>The company posted net sales of Rs96.2bn, down 9% YoY but up 7% QoQ. The YoY decline was driven by lower oil & gas production amid curtailment, while the sequential growth stemmed from higher crude oil prices, which rose from US$69/bbl in 4QFY25 to US$71/bbl in 1QFY26.</li><li>Exploration costs went down by 20% YoY and 25% QoQ to Rs3.08 in 1QFY26, primarily due to the absence of dry wells and reduced seismic activity during the quarter.</li></ul>

Oil and Gas Development Company (OGDC) announced its financial results for 1QFY26, reporting earnings of Rs38.3bn (EPS: Rs8.91), down 7% YoY and 5% QoQ.The company posted net sales of Rs96.2bn, down 9% YoY but up 7% QoQ. The YoY decline was driven by lower oil & gas production amid curtailment, while the sequential growth stemmed from higher crude oil prices, which rose from US$69/bbl in 4QFY25 to US$71/bbl in 1QFY26.Exploration costs went down by 20% YoY and 25% QoQ to Rs3.08 in 1QFY26, primarily due to the absence of dry wells and reduced seismic activity during the quarter.

Oil & Gas Development (OGDC): 1QFY26 EPS at Rs8.91, Down 7% YoY and 5% QoQ