Sterlite Tech rises on Rs 250 cr order win

Sterlite Technologies (STL) rose 1.55% to Rs 144.20 after the company secured Rs 250 crore deal for building Indian telecom operator's optical network.

Under this arrangement, STL seeks to fulfil the telecom operator's requirement for setting up a high-performance, modern communication network in India. STL is already a network modernisation partner for the telecom player and with this deal the company further strengthens its relationship with the telco.

With this multi-year deal, worth Rs 250 crore, STL aims to provide specialised optical fibres and deployment services to build the service provider's network across 9 telecom circles, pan India.

STL intends to provide a pre-integrated suite of optical fibre cables comprising armored, duct and universal cables complying with varied deployment scenarios and integration services with its end-to-end deployment methodology.

These optical fibre cables are suitable for direct burial and duct installations. The design with polyethylene outer jacket and unbonded steel tape promotes ease of installation and provides protection against rodents along with improved crush and impact resistance.

The densely fiberised network is also expected to form the foundation for many next-gen services such as 5G, FTTH, IoT, enterprise networks, and Industry 4.0.

Praveen Cherian, CEO of STL Global Services said, "STL and the telecom service provider have been long-term partners in the optical connectivity space. In this project, STL will collaborate with the service provider to develop and build a competent network for India. Through our solution, we will provide a 5G-ready and high-capacity network which is expected to enable the service provider to provide faster delivery of new services with enhanced user experience in East, South and North regions."

Sterlite Technologies is a leading integrator of digital networks providing All-in 5G solutions. Its capabilities across wireless connectivity, optical networking, software, and services, places it amongst the top 5G RAN vendors by Gartner. STL has a strong global presence in India, Italy, the UK, the US, China, and Brazil. Promoters held 54.16% stake in Sterlite Technologies.

On a consolidated basis, STL reported a net loss of Rs 22.44 crore in Q4 FY22 as against a net profit of Rs 124.40 crore posted in Q4 FY21. Revenue from operations grew 7.3% year on year to Rs 1,581.97 crore in Q4 FY22.

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