Sitara Peroxide narrows annual loss by 77%

July 31, 2025 (MLN): Sitara Peroxide Limited (PSX: SPL) has reported a net loss of Rs169.35 million for the fiscal year ended June 30, 2024, significantly lower than the loss of Rs732.55m recorded in the same period last year.

 This marks an improvement of 76.9% YoY, even as the company faced a steep decline in revenue.

Revenue from contracts with customers plummeted by 98.2% to Rs14.9m, down from Rs824m in FY23. As a result, gross loss narrowed to Rs200.45m, representing a 31% decline compared to the previous year’s loss of Rs290.39m.

This moderation was largely due to an 80.7% reduction in the cost of sales, which fell to Rs215.36m.

Operating expenses showed mixed trends. Administrative expenses dropped by 61.4% to Rs88.73m, while finance cost declined by 63.6% to Rs24.95m.

On the other hand, distribution costs were drastically reduced by 93.2%, and the company recorded a remarkable increase in other income, which surged over 72 times to Rs89.55m from just Rs1.23m in FY23.

Total expenses fell 59.5% to Rs194.61m, helping contain operational losses. Loss before taxation stood at Rs305.71m, improving by 61% compared to Rs787.95m in the previous fiscal year.

The company’s loss per share for the year stood at Rs3.07, compared to Rs14.39 in FY23, showing a 78.7% YoY improvement. 

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