iStockThe rating agency expects the interest burden on corporates to surpass pre-Covid levels in terms of value, increasing 30% in FY24 compared to FY22, with the cost of debt likely to increase across all categories irrespective of the size of the corporate.
"This is in sync with the interest rate regime in the system. A sharp rise in interest rates and higher working capital financing are likely to increase interest outflows to ₹3.38 lakh crore in FY24 from ₹2.52 lakh crore in FY22," Ind-Ra said.
However, the rating agency does not expect this to lead to broad-based credit deterioration, given the headroom available in terms of significant deleveraging and margin growth with most large corporates.
Wednesday, 12 Apr, 2023- Front Page
- Pure Politics
- Disruption
- Economy & Companies
- More
- Bumper Apple Harvest: iPhone FY23 Exports Jump 4x to top $5b
Apple’s iPhone exports from India surged nearly four times on year to cross $5 billion (more than ₹40,000 crore) in FY23, as the suppliers of the Cupertino-based company ramped up local production of its premium devices amid a growing focus on making the country a manufacturing hub.
Vedanta Close to Bagging $1.5-2 b from FarallonUS hedge fund Farallon Capital Management is in advanced negotiations to provide $1.5-2 billion funding to Vedanta, said people with knowledge of the matter.
IMF Cuts India’s FY24 Growth Outlook to 5.9%The International Monetary Fund pared its forecast for India’s growth to 5.9% from 6.1% for the current fiscal year, while painting a bleak picture for the world economy battling tightening financing conditions even as the Russia-Ukraine war rages on and the pandemic lingers.
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Get Unlimited Access to The Economic Times 
