Wockhardt Ltd notched up better performance during the third quarter ended September 2004 and its net profit went up by 13 per cent to Rs 55.8 crore from Rs 49.1 crore in the corresponding period of last year. Sales reached at Rs 317.5 crore from Rs 285.2 crore, registering a rise of 11.3 per cent. Sales of Wosulin, a recombinant insulin, crossed the Rs 1-crore mark per month. Its diabetology portfolio grew by 77 per cent during the quarter.

Habil Khorakiwala, chairman, said, " The third quarter saw three major events that will define Wockhardt's growth in the global arena in the years to come. The most important event was the launch of Wockhardt Biotech Park in September. It was followed by the $ 110-million foreign currency convertible bond to fund new acquisitions in Europe and the third event was the beginning of commercial operations at Wochkardt USA."

The company's domestic business grew by 11 per cent during the third quarter, reflecting the positive impact of restructuring of the domestic operations. Power brands continued to contribute the lion's share of domestic business with a growth rate of 18 per cent.