Lahore: Altern Energy Limited has released its annual financial report for the fiscal year ending June 30, 2026, revealing a substantial financial downturn. According to the report dated October 5, 2026, the company experienced a significant drop in total assets, declining to 3.68 billion rupees from 4.48 billion rupees in the previous year.

The unconsolidated statement of financial position highlights a decrease in non-current assets, which fell to 3.23 billion rupees from 3.54 billion rupees, largely due to a notable reduction in property, plant, and equipment values. Current assets also witnessed a decline, dropping to 162.62 million rupees from 939.36 million rupees, primarily driven by a reduction in short-term investments and bank balances.

Altern Energy's equity and liabilities reflect a weakening financial stance, with the total equity and reserves decreasing to 3.64 billion rupees from 3.87 billion rupees. The company reported an accumulated loss of 35.39 million rupees, reversing from an unappropriated profit of 192.00 million rupees the previous year. Current liabilities showed a reduction to 21.02 million rupees from 598.25 million rupees, attributed to the absence of dividend payables, which stood at 571.04 million rupees in 2025.

A significant financial downturn is evident in the profit and loss statement, where Altern Energy reported a loss of 227.40 million rupees for the year, a stark contrast to the profit of 5.79 billion rupees recorded in 2025. The company's revenue for the year stood at 34.23 million rupees, while direct costs surged to 134.31 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.

According to information available from the Pakistan Stock Exchange (PSX), Altern Energy's financial performance indicates a very large or significant move in its financial metrics. This is underscored by the company's earnings per share, which plunged to a loss of 0.63 rupees, compared to earnings of 15.93 rupees per share in the previous year.

The shift in financial performance can be partly attributed to a decline in other income, which fell drastically from 5.96 billion rupees in 2025 to 12.50 million rupees in 2026. Other expenses also increased significantly to 66.57 million rupees from 2.54 million rupees.

Altern Energy's financial report underscores the challenges faced by the company in the fiscal year 2026, reflecting the broader economic environment and operational hurdles. The energy sector, a crucial part of the designated market category, continues to experience volatility and shifts in financial performance.