Adani Enterprises Q1 loss ₹1,160 crore after OFAC settlement

Adani Enterprises Ltd, the flagship company of the Adani Group, reported a consolidated net loss of 1,160 crore rupees for the quarter ended June 30, 2026, a result driven by a one-time settlement payment to U.S. authorities. The loss contrasts with a net profit of 855 crore rupees in the same period last year.

The company attributed the loss to an exceptional charge of 2,644 crore rupees, equivalent to $275 million, paid to the U.S. Office of Foreign Assets Control (OFAC) under a settlement agreement dated May 14, 2026. The settlement relates to the company's liquefied petroleum gas (LPG) trading business between November 2023 and May 2025. According to OFAC, apparent violations involved payments processed through U.S. financial institutions for shipments of Iranian-origin LPG that breached U.S. sanctions regulations. The agency stated the company purchased LPG from a Dubai-based supplier that represented cargoes as originating from Oman or Iraq, while OFAC determined the shipments were Iranian. The settlement agreement does not constitute a final agency determination that a violation occurred, and the company has not admitted wrongdoing.

This one-time charge overshadowed what...