ArcelorMittal returns to black after 3 qtrs; Net at $900 mn

LONDON: After posting losses for three consecutive quarters, the global steel giant, ArcelorMittal, today posted a net income of USD 900 million for the quarter ended September 30.

The firm's net income of the company in the third quarter of this fiscal was, however, 76 per cent lower from the year-ago period.

The company had a net income of USD 3.8 billion in the year-ago period, after which it posted three consecutive quarterly losses amid demand slump.

"As anticipated, we have seen the first signs of recovery in the third quarter," ArcelorMittal Chairman and CEO L N Mittal said in a statemen