Its net profit for the reviewed period stood at Rs 78.8 crore, which is a rise of 18.9 per cent over the last year.
After adjusting for extraordinary item, the net profit is Rs 50.9 crore, a press release issued here stated.
"The acquisition of Negma Laboratories in France and Morton Grove Pharmaceuticals in the US has shown a remarkable performance," Wockhardt Chairman Habil Khorakiwala said.
"This has enabled us to increase our operating profit by 50 per cent and thus maintain a margin of 22 per cent," Khorakiwala added.
The company's marketshare grew 24 per cent and it improved its ranking by five levels to 15th position as compared to Q1 2007, the release said.
Overall, nine brands feature in the list of 'Top 300' brands of the industry with Dexolac and Spasmo-Proxyvon still maintaining their position in the 'Top 100'.
Europe continues to be Wockhardt's single-largest market accounting for 54 per cent of consolidated sales.
The business grew at 69 per cent, driven largely by a surge in the European formulation business growing at 70 per cent and the opportunities of contract-manufacturing fructifying and gaining momentum for the future, the release said.
