Granules India on Thursday warned of a significant loss in revenue and profitability due to a cyber security attack the pharmaceutical company faced late last month.
Due to significant changes to its IT systems, the IT security incident caused major disruption to its business operations, the Paracetamol maker said in an exchange statement.
On May 25, Granules India announced an information security incident, adding that the affected IT assets had been isolated. The company said Thursday that a ransomware group claimed responsibility for the incident.
The company said it has now managed to restore production to a near-normal level, but highlighted backlogs and delays in approving materials for quality system approvals for product shipment.
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