ArcelorMittal Q2 net rises 19% to $1.32 bn on higher sales

Sales of the steel giant rose 16.96 per cent to $17.24 billion y-o-y

The world's largest steelmaker ArcelorMittal, led by billionaire Lakshmi N Mittal, on Thursday reported 18.91 per cent rise in net profit to $1.32 billion for the April-June quarter from $1.11 billion in the year-ago period on the back of higher sales.

Sales of the steel giant rose 16.96 per cent to $17.24 billion in April-June from $14.74 billion in the corresponding period last year.

ArcelorMittal follows January-December fiscal year.

"Net debt decreased to $11.9 billion as of June 30, 2017, as compared to $12.1 billion as of March 31, 2017, due to positive free cash flow ($0.6