Rupee Pain Starts to Show as India's Top Airline Pummeled
By and Bhaskar Dutta
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After two years of calm, the rupee's sudden slide is starting to strain Indian corporate earnings, sparking a rush among some companies to hedge their currency exposures.
InterGlobe Aviation Ltd., which runs India's largest airline, saw its foreign-exchange losses jump threefold to 14.6 billion rupees ($169 million) in the December quarter. The nation's largest carmaker Maruti Suzuki India Ltd. also cited currency variations as a negative for margins.
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