Altern Energy Limited’s financial results for the year ended June 30, 2011

Altern Energy Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of the Company in their Meeting held on Wednesday, September 07, 2011 at 11.00 am has approved the following financial results of the Company:

 

30 June 2011

30 June 2010

Rupees ‘000’

Rupees ‘000’

Revenue – net 990,832 804,459
Direct cost (796,787)  (607,582)
 ——- ——-
Gross profit 194,045 196,877
Administrative expenses (12,933)  (15,248)
Other operating income 2,558 5,977
 ——- ——-
Profit from operations  183,670  187,606
Finance cost  (191,290) (178,964)
  ——-  ——-

 

(Loss) / Profit before taxation  (7,620)  8,642
Taxation  (434)  (1,599)
——-  ——-
(Loss) / Profit after taxation (8,054) 7,043
——- ——-
(Loss) / Earnings per share – basic and diluted  (0.02)  0.02

 

 

The approved consolidated financial results are as follows:

 

30 June 2011

30 June 2010

Rupees ‘000’

Rupees ‘000’

Revenue –net 16,127,550 16,017,092
Direct cost  (11,595,978) (11,443,973)
 ———- ———-
Gross profit 4,531,572 4,573,119
Administrative expenses  (89,573)  (86,738)
Other operating expenses  – (39,353)
Other operating income 59,333 24,973
 ———-  ———-
Profit from operations  4,501,332  4,472,001
Finance cost  (3,173,254)  (2,405,504)
 ———-  ———-
Profit before taxation 1,328,078 2,066,497
Taxation  (4,317) (1,640)
 ———- ———-
Profit for the year 1,323,761 2,064,857
  ———-  ———-
Attributable to:
Equity holders of the parent 792,964 1,241,110
Non-controlling interest  530,797 823,747
 ———-  ———-
1,323,761 2,064,857
 ———-  ———-
Earnings per share – basic and diluted 2.31  3.62

 

 

Please be informed that 17th Annual General Meeting of the Company would be held on Friday, October 21, 2011 at Descon Headquarters, 18 – KM, Ferozepur Road, Lahore.

The share transfer Book of the Company would remain closed from October 14, 2011 to October 21, 2011 (both days inclusive).

For more information, contact:
Umer Shehzad
Company Secretary
Altern Energy Limited
Descon Headquarters:
18 – Km, Ferozerpur Road,
Lahore.
Tel: +92-42-3599 0034
Fax: +92-42-3581 1135

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