ArcelorMittal posts Rs 1,940 crore net loss for September quarter
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Update time : 2020-11-05 16:41:21
Global steel giant ArcelorMittal on Thursday posted a net loss of $261 million (around Rs 1,940 crore) for the quarter ended September 30, 2020.
The world's largest steelmaker had clocked a net loss of $539 million in the same quarter a year ago, the company said in a statement.
The Luxembourg-headquartered integrated steel and mining company follows January-December fiscal year.
According to the statement, the net loss in the June quarter was $559 million.
Sales in July-September were $13.3 billion as compared to $16.6 billion in the corresponding period of 2019, the company said.
However, as compared to $11 billion in April-June, the sales were 20.9 per cent higher in the third quarter.
