Aurobindo Pharma Ltd will be reaching out to new markets as part of its plan to double revenue in the next three years.
The Hyderabad-based company, which posted consolidated net revenue of Rs 5,855 crore in the financial year ended March 31, with a 26.5 per cent increase over previous year, would also focus on cost-reduction across all areas.
“We expect to make inroads into South Africa, Australia, Brazil and West Asia,’’ Managing Director, N. Govindarjan, informed the investors.
With governments everywhere focussing on low-cost healthcare, the demand for generics is on the rise. In the US and European markets, new product launches and supply chain initiatives would drive growth, he added.
The company is banking on strong demand for its basket of products in Europe.
The net profit for the year 2012-13 was Rs 291 crore. In the previous year, it suffered Rs 124 crore loss.
Aurobindo’s scrip lost 4.03 per cent on the BSE on Tuesday to close at Rs 182.30.