Key facts
- Adani Enterprises reported a consolidated net loss of ₹1,160 crore for the quarter ended June 30.
- The company paid $275 million (₹2,644.02 crore) to the U.S. Office of Foreign Assets Control (OFAC) to settle allegations of violating Iran sanctions.
- The settlement related to Adani Enterprises' LPG trading business between November 2023 and May 2025.
- Consolidated revenue from operations increased by 50% year-on-year to ₹32,924 crore.
- Consolidated EBITDA reached a record ₹5,642 crore, a 49% increase.
- The company's copper business revenue surged more than twenty-fold.
Adani Enterprises, the flagship company of India's Adani Group, reported a consolidated net loss of ₹1,160 crore for the quarter ended June 30. This loss was primarily due to a one-time exceptional charge of ₹2,644 crore ($275 million) paid to the United States Office of Foreign Assets Control (OFAC) to settle allegations of violating sanctions against Iran.
The settlement agreement, executed on May 14, pertained to the company's LPG trading business between November 2023 and May 2025. OFAC stated that Adani Enterprises processed payments for shipments of Iranian-origin LPG through U.S. financial institutions, despite concerns about the cargo's origin and inconsistencies in documentation and pricing.
Adani Enterprises had proactively engaged with OFAC following reports published in June 2025 and cooperated with the investigation. The company confirmed the settlement in a stock exchange filing, noting that the agreement does not constitute an admission of wrongdoing.
Despite the significant settlement cost, the company's underlying operational performance remained strong. Consolidated revenue from operations surged 50% year-on-year to ₹32,924 crore, driven by growth in its infrastructure and incubation businesses. Consolidated EBITDA reached a record high of ₹5,642 crore, a 49% increase, bolstered by improved performance in its airports, copper smelting, and commercial mining operations. The copper business, in particular, saw its revenue increase more than twenty-fold as its smelter ramped up operations.