Sales revenues for the first quarter increased 6.3% to INR20.6bn ($372.4m), compared to INR19.35bn ($350.3m) during the previous quarter.

Interest costs were up to INR1.66bn ($29.9m), primarily due to increased borrowings for working capital couple with rate increases by lenders as directed by RBI from time to time.

The increase in interest costs were primarily due to increased borrowings for working capital and rate increases by lenders.

Reported operational EBIDTA was INR3.51bn ($63.4m) for the first quarter of 2013, up 3%, compared to INR3.39bn ($61.4m) for the same period last year.

The company’s flagship brand, McDowell’s No.1 registered a growth of 16%, similar to other top brands of the company.

In the first quarter, the company also launched a premium brandy Louis Vernont Brandy in Kerala state of India.

Unites Spirits plans to introduce the brand in other high brandy consumption markets in South India.

The key markets of Tamil Nadu and West Bengal continued to dampen the company’s performance during the quarter.

In Tamil Nadu, the company’s volumes were restricted to around 70% of its capacity.

In West Bengal, volumes continue to be lower by 20% due to the sharp increase in duties and taxes imposed by the state govternment.

The activities of the Emerging Markets Division will be conducted through a wholly owned Singapore-based subsidiary of Whyte & Mackay UK.