Alkem Labs stock slips after firm reports loss of Rs 52 crore due to cyber security breach

Alkem Labs Share Price: In the first trading session after Alkem Labs reported a loss of Rs 52 crore due to cyber security breach, the company's stock dipped in morning deals on Monday (January 15, 2024). 

Alkem Labs was trading down by 0.54 per cent, or Rs 27.45, at Rs 5022.75 at 10:13 am on Monday.

In an exchange filing on Friday, the company said that business email-ids of some employees of a subsidiary were compromised.

After the breach, the company suffered a loss of Rs 52 crore. The company said that it had taken all necessary steps on the matter. 

According to a filing by Alkem Labs, the amount involved "did not cross the quantitative thresholds of materialty as per the Company's Policy on Determination of Materiality of Events or Information".

"Whilst, the report concluded that the impact of the incident did not extend beyond the above-mentioned amounts, the Board of Directors at its meeting held today i.e. 12th January, 2024, decided that in the interest of transparency and as a matter of good governance, this cyber security incident should be reported to the stock exchanges," the filing said.