ArcelorMittal Nippon Steel India EBITDA jumps 213% to $551 mn in Sept qtr

The EBITDA was lower than $607 million in the previous quarter, primarily due to a negative cost-impact, including higher iron ore and energy costs

ArcelorMittal Nippon Steel India (AM/NS India) reported a 213 per cent increase year-on-year (YoY) in EBITDA to $551 million in the quarter ended September 30. It was at $176 million in the year-ago period.

The EBITDA was lower compared to $607 million in the previous quarter, primarily due to a negative cost-impact, including higher iron ore and energy costs. Crude steel production increased to 1.9 million tonne (mt) in the quarter compared to 1.8 mt in 2Q 2021.

ArcelorMittal follows a January-December financial year and AM/NS India numbers were released as part of its earnings in the quarter

In its