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Adani Enterprises Swings to Quarterly Net Loss on $275 Million US Settlement

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Adani Enterprises Swings to Quarterly Net Loss on $275 Million US Settlement

Adani Enterprises (NSE:ADANIENT, BOM:512599) swung to an attributable net loss in the fiscal first quarter, which executives attributed to a one-time settlement charge linked to the US Office of Foreign Assets Control (OFAC).

Net loss attributable to shareholders stood at 11.6 billion rupees from a net profit of 8.85 billion rupees a year earlier, according to an Indian bourse filing on Wednesday.

Loss per share was 8.91 rupees for the quarter ended June 30, swinging from earnings per share of 7.12 rupees last year.

The flagship unit of Indian multinational conglomerate Adani Group attributed the loss to the $275 million OFAC settlement recorded during the quarter. In May, the company agreed to settle its potential civil liability for 32 violations of OFAC's Iran sanctions.

Excluding this impact, Adani Enterprises' profit before tax declined 12% to 12.95 billion rupees from 14.66 billion rupees.

The company posted a 50% jump in revenue from operations to 329.2 billion rupees from 219.6 billion rupees a year earlier.

"This is primarily driven by a reset that is happening in the business as our copper smelter is coming online," Adani Enterprises CFO Robbie Singh told analysts during an earnings call.

Singh added that the company's investments are "now progressively moving from build-out phase to value realization phase," with a clear pathway for its diversified portfolio assets, led by Adani Airports and Adani Roads, according to a transcript of the call published by Investing.com.

Adani Airports posted a 39% year-over-year increase in total income to 37.6 billion rupees, while the segment reported a pre-tax loss of 1.94 billion rupees from a pre-tax profit of 2.04 billion rupees a year prior amid expansion.

On the company's data center business, Singh said the company has signed a new contract for 400 megawatts of capacity over the next 2.5 years, taking its total signed capacity to about 1 gigawatt.

When asked by an analyst about whether the new order was from the same customer, Singh said, "We can't really add anything more to this because we already publicly shared with you this is part of the Google contract advisory."

In October 2025, Adani Enterprises, through AdaniConneX, and Google disclosed plans to build India's "largest" data center campus in Andhra Pradesh.

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