Sitara Petroleum Services Limited witnessed a 90% increase in nine months’ net income to Rs4.41 billion while revenue grew beyond Rs106 billion. Due to stringent cost control measures, gross profit was higher than revenue growth as it increased by 70% while revenue grew by 24%. The EPS increased to Rs3.15 from Rs1.66.
Sitara Petroleum Service Limited saw almost double the net profit in its nine months’ report for the period ending March 31, 2026, with a net profit jump of 90 percent to Rs4.41 billion from Rs2.32 billion for the same period last year. The profit numbers of SPSL Profit 9MFY26 indicate that there was a sharp increase in the operations of the firm, with revenues up by 24 percent to Rs106.42 billion, compared to an even sharper increase in gross profits of 70 percent, signaling an improvement in the margins of the firm. Basic and diluted earnings per share were at Rs3.15, compared to Rs1.66 last year.
Factors That Caused SPSL To Outperform
SPSL’s 9MFY26 performance is more than just about revenue growth. It is also about margin expansion. While sales were up by 24%, the cost of sales was up by only 21.8% – a 2.2 percentage difference which, when scaled by Rs106 billion in revenues, helped push gross profit up by an impressive 70%. The gross margin for SPSL expanded by 169 basis points to reach 6.27% for 9MFY26 from about 4.58% for 9MFY25 – reflecting better procurement, product mix, pricing, or a combination of all. For an oil services company working with small margins, such a move is very important operationally.
Other Income surged by 225%
There has been a remarkable rise of 225% in Other Income from Rs33.07 million to Rs107.39 million. The amount is relatively huge compared to the figure in itself because of better earnings from investments, exchange differences, or any other source of income. The Other Income is a significant factor contributing to pre-tax profit despite the low percentage of overall income.
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Finance Cost remained stable which was quite an accomplishment
Given the prevailing scenario of high-interest rates resulting in lower margins for most companies operating in Pakistan, SPSL managed to bring down its finance cost by a slight 1.46 percent to Rs801.37 million. Given that the finance cost remained stable amid a 24 percent increase in revenue, it can be inferred that the firm has been quite careful about managing its debts.
The Complete Income Statement
| Line item | 9MFY26 (Rs) | 9MFY25 (Rs) | Change |
|---|---|---|---|
| Sales | 106,418,486,971 | 85,816,340,136 | +24.0% |
| Cost of sales | (99,743,764,884) | (81,887,859,486) | +21.8% |
| Gross profit | 6,674,722,087 | 3,928,480,650 | +69.9% |
| Other income | 107,392,883 | 33,067,352 | +224.8% |
| Admin & general expenses | (331,779,033) | (120,438,156) | +175.5% |
| Finance cost | (801,374,558) | (813,268,034) | −1.5% |
| Other expenses | (106,483,494) | (42,393,904) | +151.2% |
| Share of loss — associate | (28,278,111) | — | New charge |
| Profit before tax & levy | 5,514,199,774 | 2,985,447,908 | +84.7% |
| Final tax on revenue | (774,993,596) | (533,157,308) | +45.4% |
| Profit before income tax | 4,739,206,178 | 2,452,290,600 | +93.3% |
| Provision for taxation | (333,035,015) | (131,224,453) | +153.8% |
| Net profit for the period | 4,406,171,163 | 2,321,066,147 | +89.8% |
| EPS — basic and diluted (Rs) | 3.15 | 1.66 | +89.8% |
What Does the 9MFY26 Figure Mean For The Year?
The numbers on the SPSL Profit 9MFY26 lay a solid foundation for the entire financial year. Having managed to earn an impressive Rs4.41 billion in the first nine months of operation, it is now largely down to how SPSL performs in Q4 that will determine its profit for the entire year, ending on June 30th, 2026.
