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– Vandit P
Adani Enterprises Ltd. swung to a net loss of INR 11.6bn ($120mn) for the 1Q2027 ended June 30, vs. a profit of INR 8.85bn ($9mn) YoY. This came after booking a one-time charge tied to the settlement of US sanctions investigations, which overshadowed an otherwise strong operational performance. Revenue surged 50% to INR 329.2bn ($3.4bn). However, the company booked an exceptional charge of INR 26.4bn ($280mn), driven primarily by the $275mn that Adani Enterprises paid to resolve a sanctions probe by the US OFAC, thereby raising costs. Separately, the DoJ dropped criminal bribery charges against founder Gautam Adani and his nephew Sagar Adani after they agreed to pay $18mn to settle a parallel civil fraud case. The Adani Group flagship continues expanding into high-growth sectors including aluminum manufacturing, airport operations, data centers, and green energy. Its airport unit posted a 35% jump in revenue to INR 36.7bn ($400mn), and commercial mining revenue surged 62% to almost INR 18bn ($200mn).
Adani group companies’ dollar bonds traded stable.
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