Lahore: Sitara Energy Limited has reported a decline in profitability for the first quarter ended September 30, 2026, as reflected in its condensed interim statement of profit or loss account. The financial results, released on October 30, 2026, indicate a challenging period for the energy firm.
For the quarter ending September 30, 2026, Sitara Energy Limited recorded net sales of 15.61 million rupees, nearly doubling from 7.97 million rupees reported in the same quarter last year. Despite this positive development, the cost of generation rose to 11.28 million rupees compared to 10.22 million rupees in the previous year, leaving a gross profit of 4.33 million rupees, a turnaround from a gross loss of 2.25 million rupees a year ago.
The company reported other income of 17.05 million rupees, down from 31.60 million rupees in the prior year's corresponding period. This reduction in other income contributed to a decrease in profitability, with total income reaching 21.39 million rupees, down from 29.34 million rupees last year.
Operating expenses remained steady at 15.71 million rupees compared to 15.87 million rupees in the previous year. Finance costs saw a significant reduction from 10.74 million rupees to 5.56 million rupees, indicating a decrease in borrowing expenses.
According to information available from the Pakistan Stock Exchange (PSX), the profit for the period before levies and income tax stood at a marginal 0.11 million rupees, contrasting sharply with the 2.74 million rupees reported in the prior year. After accounting for a tax provision of 1.08 million rupees, up from 0.88 million rupees, the company registered a loss of 0.97 million rupees for the quarter, compared to a profit of 1.86 million rupees in the same period last year.
The basic and diluted loss per share for the quarter was 0.05 rupees, compared to an earnings per share of 0.10 rupees in the previous year. The energy firm's financial performance in this quarter highlights the volatile dynamics within the designated market category it operates, signaling a period of adjustment and strategy reassessment.