Saturday, May 28, 2022
  • Hyderabad
  • Telangana
  • Andhra Pradesh
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Reviews
    • Education Today
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | Business | Arcelormittal Reports Strongest Quarter In A Decade

ArcelorMittal reports ‘strongest quarter in a decade’

By IANS
Published: Published Date - 02:35 PM, Thu - 6 May 21
The operating performance significantly improved in Q1 2021, reflecting the continued demand recovery which supported a 6.5 per cent sequential increase in steel shipments, it said.

New Delhi: Steel giant ArcelorMittal has reported a net income of $2.3 billion for the January-March quarter up from $1.2 billion in the previous quarter.

In a statement, the company said that the first quarter of 2021 was its strongest quarter in a decade.

The operating performance significantly improved in Q1 2021, reflecting the continued demand recovery which supported a 6.5 per cent sequential increase in steel shipments, it said.

Operating income of the company during the period under review stood at $2.6 billion against $2 billion in 4Q 2020.

Aditya Mittal, ArcelorMittal Chief Executive Officer, said: “The first quarter of this year has been our strongest in a decade. While this is naturally a very welcome development following a highly challenging 2020, we are mindful that Covid continues to be a health challenge across the world especially in developing economies.”

“Nowhere is this more obvious at present than in India, where we have our AM/NS India JV with Nippon Steel. Our colleagues in India are sending support wherever we can, including providing daily amounts of oxygen from our sites to local hospitals and setting up temporary medical facilities. Our thoughts are with the people of India as they strive to bring this situation under control,” he said.

Operationally, he noted that the company had a positive start to the year.

“We are seeing a continuation of the positive market dynamics of the fourth quarter and have been steadily bringing back production in-line with the demand recovery, which is supported by low inventory levels through the value chain,” the CEO said.

  • Follow Us :
  • Tags
  • AM/NS India
  • ArcelorMittal reports
  • Nippon Steel
  • oxygen

Related News

  • Chinese scientist find lunar soil can generate oxygen and fuel

  • Telangana will generate 550 MT oxygen soon: Harish

  • BHEL to set up oxygen units

  • Hyderabad: UCO Bank offers new schemes

  • Telangana: Hyundai Motor India donates 100 oxygen concentrators

  • Govt caps trade margin on oxygen concentrators at 70 pc

Latest News

  • Hyderabad: ORR to get 21-km solar cycling track

    20 mins ago
  • Destination USA: Basic qualifications to study in the USA

    31 mins ago
  • Rewind: Climate-proofing Hyderabad

    42 mins ago
  • Learn tricks of good presentation

    56 mins ago
  • Let’s deal with the nuances of profit and loss

    1 hour ago
  • Avoid these things during your prep

    1 hour ago
  • What’s currently happening around you?

    1 hour ago
  • Telangana youth makes it to IIM-A, proves poverty no hurdle

    2 hours ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam