Adani Enterprises Reports Quarterly Loss After US Settlement Charge

Adani Enterprises reported a consolidated net loss of ₹11.60 billion for the quarter ended June 30, mainly due to a one-time ₹26.44 billion charge linked to a settlement with the U.S. Treasury’s Office of Foreign Assets Control (OFAC) over an investigation involving the shipping of Iranian gas. This marks the company’s second consecutive quarterly loss.

Despite a nearly 50% increase in revenue to ₹329.24 billion, profitability came under pressure from sharply higher operating expenses. Rising global fuel prices, increased material costs, higher finance expenses and employee benefit costs significantly affected earnings. The company said elevated fuel prices, driven by global geopolitical volatility, weighed on its first-quarter performance.

Adani Enterprises saw strong growth in its copper and airport businesses, with airport revenue rising more than 35% and copper revenue surging due to expanded production capacity. However, revenue from its core coal trading business declined 7%, while its new energy segment, which includes solar manufacturing and wind turbine operations, slipped 2% during the quarter.

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