ArcelorMittal Nippon Steel India EBITDA jumps 450% to $607 million

The company said Q2CY21 crude steel production remained stable at 1.8 million tonnes despite Covid-19 headwinds

ArcelorMittal and Nippon Steel India (AM/NS India) reported a 50 per cent higher EBITDA (earnings before interest, taxes, depreciation and amortisation) quarter-on-quarter (QoQ) and 450 per cent year-on-year (YoY) to $607 million in the quarter ended June 30, 2021 on the back of a strong global demand and recent resurgence in the domestic market.

The EBITDA in Q1CY21 was $403 million (ArcelorMittal follows a January-December financial year).

While announcing earnings for the quarter–-the strongest for ArcelorMittal since 2008-– the company said that Q2CY21 crude steel production of AM/NS India remained stable at 1.8 million tonnes (mt) despite Covid-19 headwinds.

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