Anil Agarwal stock engaged in providing end-to-end data network solutions to build data center networks, 5G Networks, and many more, jumped upto 3 percent in the day’s trade upon signing a strategic partnership with du Telecom one of the top telecom companies in the UAE .
With a market capitalization of Rs. 6,050 Crores, the shares of Sterlite Technologies Limited closed at Rs. 124.10, up 1.93 percent from its previous day’s close price of Rs. 121.75.
Sterlite Technologies Limited has announced a strategic partnership with du Telecom, from Emirates Integrated Telecommunications Company (EITC), one of the top telecom companies in the UAE.
Sterlite Technologies Limited has signed a new 5-year contract for its optical fibre cables with Du Telecom. As a part of this contract, it will provide its advanced optical cable designs with bend-resistant fibre to deliver better network performance, especially in FTTH networks. This will enable du to deploy networks faster with reduced capital expenditure and operating expenditure and deliver an exceptional customer experience.
Ala’ El-Hakawati, Key Account Manager at STL commented “STL has been a preferred partner for Du Telecom for the past 12 years, and this milestone signifies a continuity of the customer’s confidence in STL’s optical solutions. Du’s vision of enhancing life anytime, anywhere and STL’s purpose of transforming billions of lives by connecting the world are closely aligned and have been the driving force behind this partnership”.
Sterlite Technologies Limited is one of the largest Optical Fiber and Optical Fiber cable manufacturers in the country, engaged in providing end-to-end data network solutions to build data center networks, 5G Networks, and many more. It manufactures and supplies optic fiber, cables, and optical interconnect devices and provides other related services.
Sterlite Technologies Limited has a global presence across 75+ countries, with 10 global manufacturing facilities, and 3 innovation centers, and as of December 2023, it has 681 patents.
As of Q3FY24, it has a strong order book worth Rs. 9,849 Crores, of which business-wise breakup consists of, 47 percent came for Optical Networking, 25 percent for Global services O& M, 21 percent for Global Services Capex, and 7 percent for Digital & technology
Its revenue from operations declined by 29.79 percent from Rs. 1,883 Crores in Q3FY23 to Rs. 1,322 Crores in Q3FY24, accompanied by a profit of Rs. 47 Crore to a loss of Rs. 59 Crores.
Written by: Bharath K.S
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