Shares of tumbled 8.40 per cent on Monday to close at Rs 174.50 after the aerospace and defence company reported a sharp decline in its quarterly earnings.

For the July–September quarter (Q2 FY26), Avantel's consolidated net profit dropped 81.39 per cent year-on-year (YoY) to Rs 4.26 crore, compared with Rs 22.89 crore in the same period last year. The company's revenue from operations also fell 28.42 per cent YoY to Rs 55.41 crore. Advertisement

Profit before tax (PBT) came in at Rs 6.21 crore, marking an 80.28 per cent YoY decline from Rs 31.50 crore in Q2 FY25. Meanwhile, total expenses rose 7.97 per cent YoY to Rs 50.11 crore during the quarter.

Among key cost components, cost of materials consumed was Rs 20.56 crore, down 20.21 per cent YoY, while employee benefit expenses stood a

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