Adani Enterprises Q1 Results: Net loss of ₹1,160 crore due to one-time settlement, margins narrow

Adani Enterprises Ltd., the flagship company of the Adani Group reported a net loss of ₹1,160 crore in the June quarter on Wednesday, July 29. This is in comparison to a net profit of ₹885 crore that it had reported during the same quarter last year.

The net loss for the quarter is due to a one-time loss of ₹2,644 crore, which it paid as a settlement amount to the US Office of Foreign Assets Control (OFAC).

Revenue growth for the quarter stood at 50% from last year to ₹32,924 crore from ₹21,961 crore reported earlier.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at ₹5,007 crore, a growth of 17% from last year's figure of ₹4,262 crore.

EBITDA margin for the period narrowed by over 400 basis points from the same quarter last year to 15.2% from 19.4% earlier.

Shares of Adani Enterprises are trading 0.3% higher after the results announcement at ₹3,011.5. The stock has risen 33% so far this year.