Bharat Dynamics Ltd (BDL) reported its earnings for the quarter ended September on Thursday afternoon. Shares of the company tanked as soon as the announcement was made but were stable soon after.

What Happened: The defence public sector company's net profit for the quarter under review stood at ₹122.53 crore, a 16% drop from the ₹147.09 crore posted in the same quarter last year. The number managed to come ahead of analysts’ estimates.

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The company's revenue from operations has also gone down 11.5% year-on-year to ₹544.76 crore, compared to the ₹615.81 crore posted in the corresponding quarter of the previous year. The number was below street estimates.

On average analysts expected the company to post a revenue of ₹584 crore with a net profit of ₹114 crore.

Price Action: BDL’s share price was down 0.47% to trade at ₹974.55 on Thursday. Shares of the defence major have gone down over 17% in the last 30 days.

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