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India companies’ interest paying ability at 5-year low, says Crisil

The ability of India’s top 500 companies to service debt has dipped to a five-year low due to high interest rates and a drop in operating profits, Crisil Research said in a note on Tuesday.

Crisil’s study covered 420 companies, excluding banking and financial institutions and state-owned oil marketing companies.

During the September quarter, interest cost for Indian companies rose 36 percent on year, Crisil said.

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