AM/NS India EBITDA drops 62.98% to $204 million in September quarter

ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between ArcelorMittal and Nippon Steel, reported a 62.98 per cent year-on-year drop (YoY) in EBITDA (earnings before interest, taxes, depreciation and amortization) at $204 million in the September quarter due to lower selling price and higher cost. In the year-ago period, EBITDA was at $551 million.
 

Sequentially, EBITDA was lower by 44.11 per cent. Crude steel production and steel shipments in the quarter were lower on a YoY basis.

Crude steel production at 1.7 mt was 12.1 per cent lower as compared to 1.9 mt a year back; steel shipments at