High interest costs hurt India Inc in Q1

Consistently high rates and higher level of borrowings to meet working capital requirement have led to a 45% year-on-year rise in overall interest costs for India Inc during the April-June quarter. This higher interest costs, along with lower demand and market-to-market losses on foreign currency hedges, has led to a decline in net profit of Indian corporates, an analysis by Crisil Research showed.

Read Full Story>>