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Essar Steel Posted EBITDA as Rs 4229 Cr

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Debt-ridden Essar Steel has registered an EBITDA (earnings before interest, tax, depreciation and amortization) of Rs 4,229 crore during its Corporate Insolvency Resolution period (over 600 days).

In an affidavit filed before the National Company Law Appellate Tribunal (NCLAT) last week, its resolution professional has informed that the company earned Rs 4,000 crore from its operations between August 2017 and February 2019. In addition, the RP also mentioned an earning of Rs 229 crore for March this year. The affidavit, however, said that “figures from April 1, 2019 till date are not available”.

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