POSCO Maharashtra’s operating profit increases sharply despite decline in sales

POSCO Maharashtra – an Indian subsidiary of POSCO has achieved operating profit at $20 mn in CY’20 against $3 mn in CY’19. Profit went up as price hiked due to H2 demand recovery, although sales volume dropped from lockdown during H1’20. Its Maharashtra based plant recorded total sales volume at 1.05 mn t, a 33% y-o-y decrease over CY’19.