India's Adani Enterprises posts quarterly loss on US settlement charge (updated)

Adani Enterprises

29/07/2026 10:31

Adds comment from the company and other details
July 29 (Reuters) - India's Adani Enterprises ADEL.NS posted another quarterly loss on Wednesday, due to a one-time charge from a settlement agreement with the U.S. Treasury's Office of Foreign Assets Control over an investigation involving shipping of Iranian gas. 
The flagship firm of the billionaire Gautam Adani-led conglomerate posted a consolidated net loss of 11.60 billion rupees ($121.3 million) in the quarter ended June 30, with the one-time charge amounting to 26.44 billion rupees.
Adani Enterprises' profit before exceptional items and tax dropped about 12% to 12.95 billion rupees due to a multifold surge in cost of materials consumed.
Total expenses climbed about 54% to 322.52 billion rupees, as the cost of materials consumed surged to 142.55 billion rupees from 33.93 billion rupees a year ago.
First quarter results were "impacted due to higher operating cost on account of increased fuel prices due to global volatility," the company said in an exchange filing. 
Average global Brent crude oil prices LCOc1 were about 45% higher than in the year-ago quarter due to the Middle East conflict. 
Additionally, a 59.8% rise in interest and other finance cost and employee benefits that were 13.6% higher contributed to the surge in expenses. 
Adani's net loss widened to 4.36% from 0.50% the previous quarter, when it had reported its first loss in 17 quarters.   
The company's revenue from operations rose about 50% to 329.24 billion rupees, helped by a multifold revenue jump in its copper business due to capacity ramp-up. 
However, revenue from Adani Enterprises' mainstay coal trading segment dropped 7%, and its new energy business, which comprises solar manufacturing and wind turbine businesses, fell 2%. 
Its booming airport business posted an over 35% rise in quarterly revenue. 
     
     
     
     
($1 = 95.6050 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru; Editing by Mrigank Dhaniwala and Ronojoy Mazumdar)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))