Mazagon Dock Shipbuilders Ltd., a key player in India’s defense shipbuilding sector, reported an unexpected 35% year-on-year decline in net profit for the first quarter of FY2025, despite an 11% increase in revenue. The company's net profit fell to Rs. 189.8 crore, compared to Rs. 292 crore in the same quarter last year, largely due to higher expenses and operational costs. However, revenue from operations rose to Rs. 2,284 crore, underlining continued order execution and strong momentum in project delivery.