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AM/NS India Ebitda declines 39.9% in June quarter on lower shipments

Reports steel shipments of 1.51 MT in quarter, compared with 1.72 MT a year ago and 1.73 MT in previous quarter

ArcelorMittal
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Aditya Mittal, ArcelorMittal chief executive officer, said, “The company had a strong first half with market conditions supporting a fifth consecutive quarter of Ebitda of over $5 billion.”

Ishita Ayan Dutt Kolkata
ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between ArcelorMittal and Nippon Steel, reported a 39.86 per cent year-on-year (YoY) drop in Ebitda (earnings before interest, taxes, depreciation, and amortisation) at $365 million in the June quarter because of lower shipments after the imposition of export duty.

Sequentially, Ebitda was lower by 22.3 per cent. Steel shipments in the quarter stood at 1.51 million tonnes (MT), compared with 1.72 MT a year ago, and 1.73 MT in the previous quarter.

The company attributed lower shipments to lower production as well as lower demand. The results were also impacted by

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First Published: Jul 28 2022 | 2:13 PM IST

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