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Global steel giant ArcelorMittal on Thursday posted 80.52 per cent growth in net income at $4,125 million (about ₹31,350 crore) for the first quarter ended March 31, 2022.
It had posted a net income of $2,285 million for the year-ago quarter, the company said in a statement.
"ArcelorMittal recorded net income for 1Q 2022 of $4,125 million as compared to...a net income of $2,285 million for 1Q 2021," the Luxembourg-based firm said.
The world's largest integrated steel and mining company follows January-December fiscal year.
"Our first quarter performance was overshadowed by the war in Ukraine. Our focus has been on providing support to our 26,000 colleagues and their communities at a time of tragedy and hardship," Aditya Mittal, ArcelorMittal Chief Executive Officer, said.
Notwithstanding this backdrop, further aggravated by rising inflationary pressures across the world, ArcelorMittal produced a strong first quarter performance. This is testimony to the resilience of the company's business model, characterized by diversity of geography, product category and vertical integration, he said.
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