ArcelorMittal chairman and CEO Lakshmi Mittal said the favourable market conditions have supported another solid quarterly performance. Photo: ReutersNew Delhi/London: The world’s largest steelmaker ArcelorMittal on Friday posted a marginal 1.4% rise in operating profit at $1.92 billion for the third quarter to September on the back of higher sales. The firm, led by billionaire Lakshmi Mittal, had posted operating profit of $1.89 billion in the year-ago period, it said in a statement. Sales of the Luxembourg-based company rose 21.4% to $17.63 billion in July-September, from $14.52 billion in the same period last year. The company’s steel shipments in July-September increased to 21.7 million tonnes (mt), from 20.3mt in the year-ago quarter.

Source: Mint November 10, 2017 14:48 UTC