 "Uttam Galva Steels")
Despite ArcelorMittal paying overdues of Rs 4,922 crore of Uttam Galva Steels to the Indian lenders, the financial metrics of the company has deteriorated further in FY19 because of its rising finance cost and provisions made on doubtful advances paid by the firm to its vendors.
The company paid interest of Rs 938 crore in the year ended March 2019, up from Rs 654 crore reported in FY18. The firm also incurred a loss of Rs 1,221 crore from operations as against loss of Rs 881 crore in the previous year. Its loss widened after it made provisions of Rs 904
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