Sitara Energy FY26 profit plunges 49% to Rs59m

Mettis Global reported that Sitara Energy Limited (PSX: SEL) posted a 49.21% drop in profit in the year to June 30, 2026. Net earnings came to Rs58.57m, compared with Rs115.31m in FY25, while earnings per share settled at Rs3.07 against Rs6.04 a year earlier.

Revenue dropped sharply, with net sales down 55.33% to Rs79.05m from Rs176.99m. Cost of sales fell by a larger margin, which lifted gross profit to Rs15.05m after a gross loss of Rs37.85m in the prior year.

The main drag was other income, which fell 52.54% to Rs171.17m from Rs360.66m. Higher levies and a bigger provision for taxation also weighed on the bottom line, while other operating expenses shrank 97.12% and finance costs eased 12.00%. Operating expenses also eased 4.59%, to Rs66.50m.