Lahore: Altern Energy Limited has announced its financial results for the fiscal year 2024-25, revealing a notable net profit of Rs. 5.79 billion, despite the absence of dispatch demand and associated capacity revenue. The company’s financial performance, disclosed during a corporate briefing session on November 20, 2025, highlights the complex dynamics impacting the energy sector in Pakistan.
The financial year ending on June 30, 2025, saw Altern Energy Limited navigating through a challenging operational landscape. The company’s gross loss stood at Rs. 96.39 million, consistent with the previous year’s performance. However, a significant boost in other income, which rose to Rs. 5.96 billion from Rs. 4.50 billion the prior year, played a critical role in offsetting the operational deficits, leading to a substantial net profit.
According to information available from the Pakistan Stock Exchange (PSX), Altern Energy’s earnings per share increased to Rs. 15.93 from Rs. 11.93, indicating a robust financial position. The company’s revenue reserves have also improved, with un-appropriated profit rising to Rs. 192 million, reflecting a strategic focus on financial stability amidst market uncertainties.
The company reported total assets amounting to Rs. 4.48 billion, a significant increase from Rs. 3.89 billion in the previous fiscal year. This growth was driven by enhanced current assets, notably short-term investments which surged from Rs. 137.82 million to Rs. 670.30 million. Meanwhile, the company’s liabilities saw a shift, with current liabilities increasing to Rs. 598.25 million from Rs. 128.17 million, primarily due to a rise in dividend payable.
Operationally, Altern Energy faced significant challenges following the termination of its Power Purchase Agreement (PPA) with the Government of Pakistan on October 1, 2024. The agreement, initially set to expire in 2032, was ended early following a Negotiated Settlement Agreement, leading to the handover of the energy complex to the government by December 31, 2024. This development has resulted in a lack of dispatch demand, impacting the company’s ability to generate capacity revenue.
Despite these operational hurdles, Altern Energy has managed its financial obligations through receipts from overdue receivables and dividend income from its subsidiary, Rousch. However, the absence of future dispatch demand and uncertainty surrounding dividend income from Rousch pose ongoing challenges. The company’s management is actively pursuing the early termination of agreements with the Central Power Purchasing Agency (CPPA), a process initiated in May 2025 and currently under governmental review.
The energy sector’s designated market category continues to experience fluctuations, with Altern Energy Limited adapting its strategies to maintain financial health amidst these industry-wide changes.