Nelco hit an upper circuit limit of 10% at Rs 856.65 after the satellite and broadband services firm Intelsat announced an agreement with the company to offer inflight connectivity in India's airspace.
Intelsat, operator of one of the world's largest integrated satellite and terrestrial network and leading provider of inflight connectivity (IFC), announced the beginning of Intelsat's inflight connectivity services in Indian skies through an agreement with Nelco, India's leading satellite communication service provider.Intelsat's IFC service enables airline passengers a seamless at-home and in-office connectivity experience. Further, it allows an airline to differentiate itself, enhancing the passenger experience while driving passenger loyalty and optimizing flight operations.
"In addition to expanding our service coverage area for current customer airlines, our agreement with Nelco opens the possibility for Intelsat to serve India's domestic airlines," said Jeff Sare, president of Commercial Aviation at Intelsat. "This is a fast-growing airline market, and there is considerable untapped potential for IFC growth."
Nelco has been offering the Aero IFC services for more than two years with plans to introduce these services to more airlines in collaboration with its global partners. Nelco will provide these services using Intelsat's IS-33e high throughput satellite. Intelsat's IS-33e satellite is approved by Indian government regulators, paving the way for coverage with no interruptions or blackout zones.
The service is available on Intelsat partner airlines and their passengers on aircraft now.
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Nelco, a part of the $128 bn Tata Group, is a leading satellite communication service provider in India, providing highly reliable data connectivity solutions across the country for the Enterprise, Aero IFC and Maritime sectors.
On a consolidated basis, Nelco's net profit rose 7.8% to Rs 4.72 crore on 48.2% increase in net sales to Rs 81.68 crore in Q1 FY23 over Q1 FY22.
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