Adani Enterprises posts ₹1,160cr loss in Q1
What's the story
Adani Enterprises, billionaire Gautam Adani's flagship firm, has reported a consolidated net loss of ₹1,160 crore for the June quarter, as against a net profit of ₹885 crore in the same period last year. The company attributed the loss to a one-time charge of ₹2,644 crore paid to the US Office of Foreign Assets Control (OFAC) as a settlement amount in a fraud case.
Revenue growth
Revenue from operations jumps 50% YoY to ₹32,924cr
Adani Enterprises witnessed a 50% year-on-year surge in its revenue from operations.
The company's revenue jumped to ₹32,924 crore from ₹21,961 crore in the same quarter of the previous fiscal year.
The firm also recorded its highest-ever quarterly EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of ₹5,018 crore, up 51.6% from ₹3,311 crore in the year-ago period.
Business achievements
Other key highlights from the quarter
Adani Enterprises also achieved some major milestones during the quarter.
These include the commencement of international operations at Navi Mumbai International Airport, expansion of renewable energy manufacturing capacity, and initiation of toll collections on Ganga Expressway.
The company also successfully completed a ₹15,000 crore Qualified Institutional Placement (QIP), reflecting strong investor confidence in its long-term growth strategy.