Altern Energy Ltd. Reports Loss Despite High Turnover

Karachi, Altern Energy Ltd. (AEL), a company specializing in power generation and distribution, faced a challenging financial year despite significant trading volumes on the Pakistan Stock Exchange. The company’s share price today stood at Rs. 23.78, with a daily weighted average rate slightly higher at Rs. 24.79. Altern Energy Ltd., which was listed in 1998, declared a dividend distribution of 185% on par value Rs. 10 for the fiscal year 2023, following a distribution of 47% in the previous year. Despite a considerable turnover of 11,572,500, the company posted a negative earnings per share (EPS) of Rs. (0.20) for the period from January to April 2024.