Adani Enterprises logs ₹1,160-crore loss after ₹2,644-crore US settlement
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New Delhi: Adani Enterprises reported a consolidated net loss of ₹1,160 crore for the quarter ended June 30, reversing a profit of ₹885 crore in the same period last year, after booking a one-time exceptional charge of ₹2,644 crore linked to a settlement with the US Office of Foreign Assets Control (OFAC).
The company said it entered into a settlement agreement with OFAC on May 14 and paid $275 million (about ₹2,644 crore) over an investigation into its imports of liquefied petroleum gas (LPG) that may have involved Iran or parties subject to US sanctions. According to OFAC, Adani Enterprises failed to identify “red flags” in transactions involving a Dubai-based supplier between November 2023 and June 2025, and as a result caused US financial institutions to process 32 dollar-denominated payments worth around $192 million for cargoes imported into India through Mundra port in Gujarat.
Total expenses for the quarter rose about 54% to ₹32,252 crore, while the cost of materials consumed stood at ₹14,255 crore, up sharply from ₹3,393 crore a year ago. Adani Enterprises attributed the hit to first-quarter earnings in part to “higher operating cost on account of increased fuel prices due to global volatility”. Reuters reported that this marked another quarterly loss for the Gautam Adani-led flagship firm, which had posted its first loss in 17 quarters in the previous period.
In a separate development, Gautam Adani and his nephew Sagar Adani have agreed to a proposed $18 million penalty to settle US Securities and Exchange Commission (SEC) allegations linked to Adani Green Energy Ltd over claims that bribes were paid or promised to Indian officials. They have neither admitted nor denied the allegations.