June 11, 2026 (MLN): A near-doubling of net profit marked a standout nine-month performance for Sitara Petroleum Service Limited (PSX: SPSL), as the company's consolidated profit for the period ended March 31, 2026 surged 90% to Rs4.41bn compared to Rs2.32bn in the corresponding period last year.

Showing this robust bottom-line expansion, basic and diluted earnings per share (EPS) climbed sharply to Rs3.15 from Rs1.66 in 9MFY25.

The top-line delivered strong growth, with sales rising 24% year-on-year to Rs106.42bn from Rs85.82bn in the prior period.

Cost of sales rose at a comparatively moderate pace of 22% to Rs99.74bn, allowing gross profit to surge an impressive 70% to Rs6.67bn from Rs3.93bn previously.

Other income provided a further boost, registering a massive 225% jump to Rs107.39m from Rs33.07m last year. Administrative and general expenses, however, rose sharply by 175% to Rs331.78m, while other expenses climbed 151% to Rs106.48m.

Finance cost remained largely contained, edging down slightly by 1% to Rs801.37m. The period also absorbed a share of loss on investment in associate amounting to Rs28.28m, a charge absent in the prior year. In aggregate, total expenses and associate losses rose 30% to Rs1.27bn.

As a result, profit before income tax and levy surged 85% to Rs5.51bn from Rs2.99bn, reflecting the company's strong operational leverage.

Despite the sharply higher pre-tax profit, the effective tax burden rose. Final tax on revenue increased 45% to Rs775.00m, leaving profit before income tax at Rs4.74bn up 93% year-on-year. Provision for taxation climbed 154% to Rs333.04m from Rs131.22m.

Even after absorbing the heavier tax charges, the company's profit for the period comfortably secured a near-doubling, expanding 90% to Rs4.41bn and affirming the strength of SPSL's core operational performance across the nine-month period.