New Delhi, Jan. 9 -- Shares of Elecon Engineering, one of the largest Industrial Gear solution providers, plummeted 16% in intraday trade on Friday, January 09, falling to a nine-month low of Rs.422 per share, following the company's December quarter results, which were released after market hours on Thursday.

The company reported a net profit of Rs.72 crore in Q3FY26, marking a 33% decline from Rs.108 crore reported in the same period last year. It posted a modest 4.3% year-on-year improvement in consolidated revenue from operations to Rs.552 crore, which was impacted by delays in order inflows in its gear division.

Revenue from the gear segment remained flat at Rs.429 crore, as a slowdown in orders affected execution and led to deferr...