ArcelorMittal's net loss widens to 8mn, cuts capex to bn

May 7, 2015 7:41 AM

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ArcelorMittal's net loss widens to 8mn, cuts capex to bn

World's largest steel company ArcelorMittal on Thursday reported a net loss of USD 728 million for the first quarter ended March 31 on account of currency headwinds as well as declining iron ore prices.

The company, controlled by NRI billionaire Lakshmi Mittal, had reported a net loss of USD 205 million in the year-ago period, it said in a statement.

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