After following the required step process & safety measures, the factory operations have been shut down temporarily.

"Necessary steps are being taken to drain out the water. After careful evaluation and following all the regulatory procedures, the operations would be commenced at the earliest,” the company said in a statement.

Natco Pharma stated that the site manufactures active pharmaceuticals ingredient (API) products for Cancer Medicines at the aforesaid factory, the company will continue to service the customers uninterruptedly from the inventory of finished goods. There is no material impact on the financial position or sales of the company.

The factory is adequately covered by insurance through the policy coverage, the company further informed.

Natco Pharma is engaged in the business of pharmaceuticals which comprises research and development, manufacturing and selling of bulk drugs and finished dosage formulations. The company has manufacturing facilities in India which caters to both domestic and international markets including regulated markets like United States of America and Europe.

The company reported a consolidated net profit of Rs 369.00 crore in the quarter ended September 2023 as against Rs 56.80 crore during the previous quarter ended September 2022. Sales jumped 138.69% to Rs 1031.40 crore in Q2 FY24 from Rs 432.10 crore in Q2 FY23.

The scrip shed 0.48% to currently trade at Rs 782.55 on the BSE.