ArcelorMittal Nippon Steel India has reported that its Ebitda increased 59 per cent to $435 million against $274 million logged in the same period last year, on higher realisation.
However, it was lower by 21 per cent compared to $551 million registered in September quarter due to lower steel shipments, unfavourable sales mix and higher slab weighted average cost partially offset by higher sales prices.
Sales in the December quarter was up marginally at 1.05 million tonnes (1 mt) but down 13 per cent compared to 1.20 mt logged in September quarter due to hot strip mill maintenance outage and weak demand.
Production was up marginally at 1.07 mt (1.06 mt) year-on-year but down 14 per cent compared to 1.24 mt registered in September quarter.
Aditya Mittal, Chairman, ArcelorMittal Nippon Steel India said the company has achieved record production, shipments and Ebitda in 2021, despite the burden of higher energy and commodity prices. "We are getting more out of our existing operations at Hazira through debottlenecking and are on track to achieve 8.8 mt capacity by the end of next year," he said.