Sterlite Tech collaborates with Vocus Group for Australia project

The digital networks integrator announced its collaboration with Vocus Group for Project Horizon in Western Australia.

Under the partnership, Sterlite Technologies (STL) will provide high strength optical fibre cables for Vocus's inter capital network extension program.

Under the Project Horizon, Vocus deploy the first competitive fibre backbone between Perth and Port Hedland, and is the first major infrastructure project under Vocus' $1 billion investment program.

This deal strengthens STL's relationship with Vocus, where STL previously provided its optical networking solutions, Opticonn for brownfield network build projects.

STL is an industry-leading integrator of digital networks that helps telcos, cloud companies, citizen networks and large enterprises deliver enhanced experiences to their customers.

On a consolidated basis, the company reported a net loss of Rs 20 crore in Q1 FY23 as against a net profit of Rs 116 crore in Q1 FY22. Revenue from operations rose 20.3% to Rs 1,575 crore in Q1 FY23 from Rs 1,309 crore posted in Q1 FY22.

Shares of STL rose 0.64% to Rs 181.80 on Friday, 7 October 2022.

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