Karachi: Altern Energy Limited has released its financial results for the fiscal year ending June 30, 2026, revealing a pronounced downturn in its financial position. The report, dated September 1, 2026, indicates substantial reductions in both asset value and profitability.
The board of directors of Altern Energy Limited convened on Tuesday, September 1, 2026, at 11:30 a.m. to discuss the company's financial performance. The board has opted not to declare any dividends, bonus shares, or rights shares for the period.
The unconsolidated statement of financial position as of June 30, 2026, shows total assets falling to 3.68 billion rupees, a very large or significant move from the previous year's 4.48 billion rupees. Non-current assets decreased to 3.23 billion rupees from 3.54 billion rupees, while current assets plummeted to 162.62 million rupees from 939.36 million rupees. These figures underscore a notable depreciation in property, plant, and equipment, from 332.34 million rupees to 21.31 million rupees.
According to information available from the Pakistan Stock Exchange (PSX), the company's financial liabilities also exhibited changes. The total equity and liabilities presented a very large or significant move to 3.68 billion rupees from 4.48 billion rupees. The share capital and reserves declined to 3.64 billion rupees, down from 3.87 billion rupees, primarily due to an accumulated loss of 35.39 million rupees compared to the prior year's un-appropriated profit of 192.00 million rupees.
The unconsolidated statement of profit or loss reveals that revenue for the year was reported at 34.23 million rupees, with direct costs significantly increasing to 134.31 million rupees from 96.39 million rupees, resulting in a gross loss of 100.08 million rupees. Administrative expenses increased to 67.23 million rupees from 49.26 million rupees, and other income witnessed a sharp decline to 12.50 million rupees from 5.96 billion rupees. Consequently, the company reported a net loss for the year at 227.40 million rupees, a very large or significant move from the previous year's profit of 5.79 billion rupees.
The company's earnings per share have also experienced a marked decline, registering a loss of 0.63 rupees per share compared to earnings of 15.93 rupees per share in the preceding year.
Altern Energy Limited operates within the designated market category of energy, and these financial results highlight the significant challenges the company currently faces in maintaining its financial stability and shareholder value.