Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, slipped into a consolidated net loss of ₹1,160 crore in the first quarter of FY27, weighed down by a one-time Office of Foreign Assets Control (OFAC) settlement of $275 million. The company had reported a net profit of ₹885 crore in the corresponding quarter last year.
However, the underlying business continued to gain momentum, with the company reporting its highest-ever quarterly EBITDA of ₹5,642 crore, up 49% year-on-year, supported by robust performance across its infrastructure and incubating businesses.
Total income for the June quarter rose 50% to ₹33,546 crore, compared with ₹22,437 crore in the year-ago period.
Core business remains resilient
Despite the reported loss, the results reflect the growing scale of Adani Enterprises’ diversified business portfolio, which spans airports, roads, renewable energy, data centres and new energy initiatives.
The company said the strong EBITDA growth demonstrates the benefits of its long-term infrastructure investment strategy, with several businesses now entering the operational phase where higher capacity utilisation and improved efficiencies are expected to enhance shareholder returns.
Growth platforms gather pace
Gautam Adani, Chairman, Adani Group, said the company had started FY27 on a strong note despite the one-off impact on profitability.
“Adani Enterprises has begun FY27 with an exceptionally strong performance, delivering its highest-ever quarterly EBITDA of ₹5,642 crore, driven by the growing scale and maturity of our infrastructure and incubation platforms,” he said.
He highlighted several operational milestones achieved during the quarter, including the commencement of international operations at Navi Mumbai International Airport, toll collections on the Ganga Expressway, expansion of solar module manufacturing capacity and securing a major hyperscale data centre order.
“As India’s infrastructure requirements expand, we remain focused on building globally competitive businesses that advance national priorities and create enduring value for all our stakeholders,” Adani added.
Infrastructure milestones and investor confidence
During the quarter, Adani New Industries commissioned a new 1.7 GW solar module manufacturing line, strengthening its renewable energy manufacturing capabilities.
Navi Mumbai International Airport commenced international operations from July 15, 2026, while toll collection began on the Ganga Expressway project from May 15, 2026, marking key milestones in the company’s transport infrastructure portfolio.
The company also strengthened its balance sheet by raising ₹15,000 crore through a Qualified Institutional Placement (QIP) in July 2026. The issue attracted subscriptions worth 3.8 times the base issue size, with participation from a broad mix of domestic and global institutional investors, including mutual funds.
Settlement masks operational strength
While the one-time OFAC settlement weighed heavily on the bottom line, the June quarter results underscore the operational strength of Adani Enterprises’ diversified infrastructure portfolio. The record EBITDA and continued execution across airports, roads, renewable energy and digital infrastructure indicate that the company’s long-term investment cycle is beginning to translate into stronger operating performance.