Earnings Review
Payment to settle US departments charge drags Adani Enterprises into red
This story was originally published at 20:04 IST on 29 July 2026
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--Adani Ent Apr-Jun consol net loss INR 11.60 bln
--Adani Ent Apr-Jun consol revenue INR 329.24 bln
--Adani Ent Apr-Jun net loss includes one-time cost INR 26.44 bln
--Adani Ent Apr-Jun consol revenue INR 329.24 bln vs INR 219.61 bln year ago
--Adani Ent Apr-Jun consol net loss INR 11.60 bln vs PAT INR 8.85 bln yr ago
--Adani Ent Apr-Jun consol expenses INR 322.51 bln vs INR 209.70 bln yr ago
--Adani Ent Apr-Jun consol cost of materials INR 142.55 bln vs INR 33.93 bln yr ago
--Adani Ent Apr-Jun consol operating margin 15.25% vs 15.07% year ago
--Adani Ent Q1 consol resources mgmt sales INR 73.26 bln vs INR 78.79 bln
--Adani Ent Q1 consol mining services revenue INR 11.55 bln vs INR 11.54 bln
--Adani Ent Q1 consol profit before one-time, tax INR 12.9 bln vs INR 14.7 bln
--Adani Ent Q1 consol energy ecosystem revenue INR 39.03 bln vs INR 39.83 bln
--Adani Ent Apr-Jun consol airport revenue INR 36.71 bln vs INR 27.17 bln
--Adani Ent Apr-Jun consol copper ops sales INR 107.10 bln vs INR 5.37 bln
--Adani Ent Apr-Jun consol road revenue INR 7.70 bln vs INR 21.68 bln
--Adani Ent Q1 consol commercial mining sales INR 17.95 bln vs INR 11.08 bln
--Adani Ent Q1 one-time cost INR 26.44 bln for settlement of US probe
--Adani Ent Apr-Jun consol EBITDA INR 56.42 bln, up 49% on year
--Adani Ent Q1 resources mgmt sales volume 8.3 mln tn, dn 35% on yr
By Avishek Rakshit
KOLKATA – The money Adani Enterprises Ltd. had to shell out in May to settle a matter pertaining to alleged violation of sanctions imposed by the US against the purchase of Iranian oil and gas has taken the company into the red in the June quarter. Adani Enterprises agreed to pay $275 million to settle the charge levelled against it by the US Office of Foreign Assets Control.
Adani Enterprises reported a consolidated net loss of INR 11.60 billion for the June quarter against a net profit of INR 8.85 billion for the year-ago quarter. Even discounting the adjustments for the settlement in the US, the company's profit would not have registered any growth in the June quarter as the pre-tax profit for the quarter fell 12% on year. Profit before tax for the quarter, excluding the one-time settlement cost of INR 26.44 billion, was INR 12.9 billion, against INR 14.7 billion for the year-ago quarter.
However, the company's consolidated revenue for the reporting quarter grew nearly 50% on year to over INR 329 billion, on the back of strong performance from established businesses and continued momentum of incubating businesses.
In the June quarter, most of the larger business verticals of the company saw their revenues decline or remain flat. It was the copper smelting and refining business that led most of the revenue growth.
The top line from copper operations surged drastically to over INR 107 billion in the June quarter from just INR 5.37 billion in the year-ago quarter while revenues from the roads business declined sharply to INR 7.70 billion from INR 21.68 billion. Revenues from the energy ecosystem for the June quarter declined by around INR 800 million on year to INR 39 billion.
Sales from resources management services, until recently the largest contributor to the company's revenues before the copper smelting and refining business put it in the shade, declined 7% on year to around INR 73 billion in the June quarter. Revenues from mining services froze on year at INR 11.55 billion.
Revenues from resource management services fell as sales volume in the segment declined 35% on year to 8.3 million tonnes in the June quarter. Revenues from airports increased 35% on year to nearly INR 37 billion. The top line from commercial mining operations increased by a whopping 62% on year to nearly INR 18 billion.
In a presentation for investors submitted to the bourses, Adani Enterprises said its June quarter results were hit by higher operating costs on account of increased fuel prices due to global volatility. The company's cost of raw materials consumed in the June quarter rose 320% on year to nearly INR 143 billion and finance and interest costs increased around 60% on year to over INR 24 billion. Overall, expenses increased nearly 54% on year to nearly INR 323 billion in the June quarter.
Even as the group's revenue growth from some of its established businesses was soft in the June quarter and the outgo to settle the dispute in the US led it to a loss, Adani Enterprises posted its highest-ever quarterly earnings before interest, tax, depreciation, and amortisation in the June quarter at INR 56.42 billion, registering 49% year-on-year growth. The operating margin also improved to 15.25% from 15.07% in the year-ago quarter.
The company's airports operations registered an EBITDA growth of 49% on year to INR 16.33 billion and capacity ramp-up from the copper business added INR 7.49 billion of EBITDA in the June quarter.
"Adani Enterprises has begun FY27 with an exceptionally strong performance, delivering its highest-ever quarterly EBITDA of Rs 5,642 crore (INR 56.42 billion), driven by the growing scale and maturity of our infrastructure and incubation platforms," Gautam Adani, chairman of the Adani Group, said in a statement. "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."
Wednesday, shares of Adani Enterprises closed at INR 3,024.50 on the National Stock Exchange, up 0.7% from Tuesday. The company declared its June quarter results during trading hours. End
Edited by Rajeev Pai
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