Islamabad: Altern Energy Limited has reported a notable downturn in its financial performance for the year ending 2026, as revealed in its recently released financial statements. The company's assets, liabilities, and overall profitability have experienced considerable changes compared to the previous year.

The statement of financial position indicates that Altern Energy's total assets have decreased to 3.68 billion rupees from 4.48 billion rupees in 2025. This decline is primarily attributed to a reduction in both non-current and current assets. Non-current assets fell to 3.23 billion rupees from 3.54 billion rupees, largely due to a significant depreciation in property, plant, and equipment, which now stand at 21,308 thousand rupees compared to 332,338 thousand rupees in the previous year. Current assets also saw a decrease, falling to 162.62 million rupees from 939.36 million rupees.

A major shift was observed in the company's revenue streams. Revenue for 2026 was reported at 34,225 thousand rupees, with direct costs significantly exceeding this figure at 134,309 thousand rupees, resulting in a gross loss of 100,084 thousand rupees. This represents a moderate move in profitability compared to the gross loss of 96,393 thousand rupees in 2025. Additionally, administrative expenses rose to 67,234 thousand rupees from 49,264 thousand rupees, further impacting the company's financial position.

According to information available from the Pakistan Stock Exchange (PSX), Altern Energy's financial challenges are compounded by a sharp decrease in other income, which plummeted to 12,501 thousand rupees from a substantial 5,963.52 million rupees in 2025. This very large decline has significantly affected the company's bottom line.

On the liabilities side, the company's current liabilities decreased significantly to 21,018 thousand rupees from 598,245 thousand rupees, as dividend payable dropped to zero from 571,044 thousand rupees. Non-current liabilities, however, increased due to a rise in employee benefit obligations, which now amount to 16,893 thousand rupees compared to 10,783 thousand rupees in 2025.

In terms of equity, the issued, subscribed, and paid-up share capital remained unchanged at 3.63 billion rupees. However, accumulated losses have replaced the un-appropriated profit, resulting in a capital reserve of (35,394) thousand rupees, a big move from the 192,002 thousand rupees reported last year.

The company's loss before income tax for the period was reported at 227,396 thousand rupees, a significant downturn from a profit of 5,787.24 million rupees in the prior year. The loss per share, both basic and diluted, was recorded at 0.63 rupees, contrasting starkly with the earnings per share of 15.93 rupees in 2025.

Altern Energy Limited's financial results for 2026 highlight the challenges faced by the company amidst a very large decrease in other income and increased administrative expenses. The company's management will likely need to address these issues to stabilize its financial position moving forward.