Rupee fall pares India Inc's profit by a fourth in Q2

The rupee depreciation alone knocked off almost a fourth of the total net profit of India Inc in the quarter ended September. An analysis of the results show the cumulative net profit of 2,680 companies was Rs 48,148 crore. That number could have gone up by at least Rs 15,000 crore but for the amount some companies set aside to account for currency fluctuations, derivative losses and mark-to-market (MTM) losses on foreign currency loans. The cumulative net profit could have been much lower if all companies provided for such loss in the Q2 results, instead of carrying such losses in the balance sheet.

Read Full Story>>