Adani Enterprises Q1 Results: Co Reports Loss of Rs 1,160 Cr on One-Time Expense; Revenue Surges 50% YoY
Revenue rose 50% to 329.24 billion rupees, but a 26.4 billion rupee charge pushed the Adani Group flagship to a surprise loss.
- On Wednesday, Adani Enterprises Ltd reported a consolidated net loss of 11.6 billion rupees for the three months ended June 30, driven by a one-time $275 million settlement with the U.S. Office of Foreign Assets Control.
- Two months ago, billionaire founder Gautam Adani and his nephew Sagar Adani agreed to pay $18 million to settle a civil fraud case after the Department of Justice dropped criminal bribery charges, with neither admitting wrongdoing.
- Excluding the exceptional OFAC settlement, the company's core business remained profitable with EBITDA growing 49% year-on-year to a record 5,642 crore, while revenue surged 50% to 32,924 crore.
- Navi Mumbai International Airport commenced international operations on July 15, wind turbine generator deliveries rose 83% year-on-year to 64 sets, and airport passenger traffic climbed 3% to 24.2 million.
- Chairman Gautam Adani said the company remains focused on building competitive businesses to advance India's infrastructure, though analysts caution the surprise loss may complicate securing cheaper funding and could slow capital-expenditure programs.
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Adani Enterprises, India, suffered damage for the second consecutive quarter on Wednesday (29), due to an extraordinary cost relating to the agreement to close an investigation into US sanctions in May, which negatively impacted the growing profits of its airports and copper casting units. Exclusive material for subscribers. To have full access, access the link of the material and register.
Adani Enterprises reports Q1 net loss of Rs 1,160 crore after Rs 2,644 crore OFAC settlement; EBITDA hits record Rs 5,642 crore, income up 50%.
Adani Enterprises Q1 FY27 EBITDA Rises 49% YoY to a Record Rs 5,642 Crore
Get latest articles and stories on Business at LatestLY. Adani Enterprises Ltd. on Wednesday reported its highest-ever quarterly EBITDA of Rs 5,642 crore in the first quarter of FY27, marking a 49 per cent year-on-year increase, driven by strong performance across its infrastructure and incubating businesses. Business News | Adani Enterprises Q1 FY27 EBITDA Rises 49% YoY to a Record Rs 5,642 Crore.
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