Granules India Ltd the maker of paracetamol and ibuprofen pain relievers, reported a 62.5% fall in first-quarter profit on Wednesday, as a cyber security incident significantly disrupted operations. The generic drug maker’s consolidated net profit tumbled to 478.9 million rupees ($5.8 million) in the April-June quarter, from 1.27 billion rupees a year earlier.
Granules faced a cyber security attack in May, which caused major disruptions in its operations, affecting its IT assets. A ransomware group has claimed responsibility, the company said.
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Source: Reuters