India, Oct. 27 -- The decline followed the company's announcement of its Q2 FY27 financial results, which showed weaker revenue and a substantial increase in provisions. Despite being one of India's major defence shipbuilders, Mazagon Dock reported a significant deterioration in profitability during the quarter.

Shares of Mazagon Dock Shipbuilders came under heavy selling pressure after the defence shipbuilding company reported a sharp decline in its September quarter earnings. The stock fell 6.66 percent to Rs.1,755.05 compared to its previous closing price of Rs.1,879. Revenue and Profit Decline Sharply Mazagon Dock reported consolidated revenue from operations of Rs.2,446.09 crore in Q2 FY27, declining 16.5 percent from Rs.2,929.24 c...