Shakti Pumps Shares Plunge 14% After Q3 Results, Net Profit Down 70%

• Shakti Pumps (India) Limited shares dropped up to 14% on Monday following weak December quarter results.
• Net profit decreased by 69.6% year-on-year to ₹31.7 crore, down from ₹104.1 crore in the same quarter last year.
• Revenue fell by 15.1% to ₹551 crore, and operating profit (EBITDA) declined by 61.8% to ₹59 crore.
• Company Chairman Dinesh Patidar stated project execution in Maharashtra was deliberately slowed to control rising receivables and maintain a strong balance sheet.
• Increased raw material prices and a one-time expense of ₹4.4 crore due to labor law changes also impacted profitability.