Adani Enterprises Posts Rs 1,160-Crore Loss Over Rs 2,644-Crore US Payout
New Delhi: Adani Enterprises posted a quarterly loss on July 29, thanks to a Rs 2644-crore payment to the US Office of Foreign Assets Control over an investigation involving shipping of Iranian gas.
In May, the US Treasury Department had announced a US $ 275 million settlement with Adani Enterprises over alleged “apparent violations” of American sanctions on Iran.
Reuters reported that the flagship firm of the Gautam Adani-led conglomerate posted a consolidated net loss of Rs 1160 crore in the quarter ended June 30.
The firm's total expenses climbed about 54% to Rs 32,252 crore. The cost of materials consumed was Rs 14,255 crore. A year ago, it was Rs 3,393 crore. Last quarter, Adani had reported its first loss in 17 quarters.
Adani Enterprises said that first quarter earnings suffered "due to higher operating cost on account of increased fuel prices due to global volatility."
As The Wire has reported before, the case relates to imports of Liquefied Petroleum Gas (LPG) sourced through a Dubai-based supplier between November 2023 and June 2025. According to a press release related to the settlement order issued by OFAC, Adani Enterprises failed to notice “red flags” in these transactions.
As a result, says the OFAC, Adani Enterprises caused US financial institutions to process 32 dollar-denominated payments worth about US $ 192 million. The cargoes were imported by Adani Enterprises into India through Mundra port in Gujarat between November 2023 and June 2025.
Meanwhile, Adani and his nephew Sagar have agreed to a proposed US $ 18 million penalty to settle the US Securities and Exchange Commission (SEC) allegations linked to Adani Green Energy Ltd of having paid or promised bribes to Indian officials. They have neither admitted nor denied the allegations.
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