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ArcelorMittal’s first quarter net income rises more than 80 percent to $4125 million

New Delhi, May 5 (PTI) Global steel company ArcelorMittal reported 80.52 per cent increase in net income to $4125 million (about Rs 31,350 crore) for the first quarter ended March 31, 2022.

The company said in a statement on Thursday that it had net income of $2285 million in the same quarter a year ago. “ArcelorMittal reported net income of $4125 million in the March quarter of 2022 as compared to $2285 million in the same quarter of 2021,” it said.

This steel and mining company follows January to December financial year so March quarter is the first quarter for it.

Aditya Mittal, CEO, ArcelorMittal said, “Our Q1 performance was impacted by the war in Ukraine. Our focus is on helping our 26,000 allies and their communities in this time of tragedy and hardship.”

Despite all this, the company performed well in the first quarter, he added.

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