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Bangalore, July 27 United Spirits has posted 94 per cent increase in first-quarter net profit to Rs 87.6 crore, as revenues grew 17 per cent to Rs 766 crore. A company release said that earnings before interest, depreciation and tax rose 67 per cent to Rs 174.23 crore.

However, finance charges were 15 per cent higher at Rs 29.2 crore, because of the combined impact of the debt restructuring exercise undertaken from the proceeds of the GDR issue made by McDowell in March 2006 and the loan raised in the quarter under review to acquire Whyte & Mackay. Sales of key premium brands grew 16 per cent to 16.8 million cases. The company’s decision to emphasise value over volume has resulted in premium brands constituting 93 per cent of the portfolio, an increase of six per cent in 2006-07. Overall volumes grew 13 per cent to 18.1 million cases.

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