Adani Enterprises Limited (AEL), the flagship company of Adani Group, reported a consolidated net loss (attributable to owners) of Rs 1,160 crore in the April-June quarter (Q1FY27), compared with a net profit of Rs 885 crore in the year ago quarter (Q1FY26). The losses are primarily attributed to Rs 2,644 crore exceptional charges for a settlement with the US Office of Foreign Assets Control (OFAC).
The US Department of the Treasury's OFAC on May 18 had announced a $275 million settlement with AEL wherein the Ahmadabad-based conglomerate agreed to settle its potential civil liability for 32 apparent violations of OFAC's Iran sanctions.
AEL said it had entered a settlement agreement with OFAC in Q1FY27 and paid $275 million, equivalent to Rs 2,644 crore. The company recorded this as an exceptional item. Q1FY26 was also AEL’s consolidated net loss for the second straight quarter.
Profit before tax, excluding the exceptional item, fell about 12% year-on-year to Rs 1,295 crore, according to a company statement. Revenue from operations rose about 50% to Rs 33,546 crore, while EBITDA climbed 49% to a record Rs 5,642 crore. Adani Enterprises said its first-quarter results were impacted due to higher operating costs on account of increased fuel prices due to global volatility.
“Adani Enterprises has begun FY27 with an exceptionally strong performance, delivering its highest-ever quarterly EBITDA of Rs 5,642 crore, driven by the growing scale and maturity of our infrastructure and incubation platforms,” said Gautam Adani, Chairman of the Adani Group.
“The commencement of international operations at Navi Mumbai International Airport, toll collections on the Ganga Expressway, the expansion of our solar module capacity and a major new hyperscale data center order mark important milestones in our growth journey. The successful Rs 15,000 crore QIP further reflects strong institutional confidence in our strategy and execution capabilities,” added Adani.
For AEL, revenue growth was led by the company's copper business, where capacity ramp-up drove a multifold increase in sales. The airport business posted more than a 35% increase in quarterly revenue and a 49% rise in EBITDA to Rs 1,633 crore. Revenue from the company's coal trading business fell 7%, while its new energy business, comprising solar manufacturing and wind turbine operations, declined 2%.