Karachi: Sitara Peroxide Limited has reported a decrease in its quarterly loss for the first quarter ending September 30, 2026, despite a shutdown of operations for planned Balancing, Modernization, and Replacement (BMR) activities. The company’s financial results, disclosed in an unaudited report dated October 30, 2026, reveal a focus on cost control and financial restructuring.

The company recorded a loss before income tax of Rs. 56.22 million for the July-September 2026 period, an improvement from a loss of Rs. 61.40 million in the same period last year. After accounting for a tax provision of Rs. 13.36 million, compared to Rs. 11.87 million in the previous year, the net loss after tax stood at Rs. 42.86 million, down from Rs. 49.53 million.

Administrative expenses for the quarter amounted to Rs. 59.38 million, slightly up from Rs. 59.34 million in the previous year. This figure includes depreciation costs of Rs. 44.64 million, compared with Rs. 44.44 million last year. The finance cost was reported at Rs. 586,124, showing a minor move from last year’s Rs. 603,244.

According to information available from the Pakistan Stock Exchange (PSX), Sitara Peroxide Limited did not report sales, cost of sales, or gross profit/loss figures for the quarter, highlighting the impact of the plant's temporary closure.

Other income saw a significant increase, reaching Rs. 3.74 million from Rs. 43,670 in the previous year. This boost in other income contributed to the reduction in the overall loss per share to Rs. 0.78, classified as a very large or significant move from Rs. 0.90 in the same quarter last year.

The management of Sitara Peroxide Limited emphasized its commitment to completing the BMR initiatives promptly to resume operations. Efforts to manage costs and reduce financial expenses through strategic repayment and rescheduling of bank liabilities were noted as key factors in mitigating losses.

The Board of Directors expressed gratitude to stakeholders for their continued support and acknowledged the dedication of the company’s employees during this challenging period. The management remains focused on protecting the interests of shareholders, customers, suppliers, financial institutions, and employees while pursuing the completion of BMR activities.