Sterlite Tech rises after bagging orders worth Rs 900 crore from domestic fiberisation projects

Sterlite Technologies added 3.94% to Rs 127.95 after the company announced that it has been awarded orders worth Rs 900 crore in FY24 to provide integrated optical solutions to the leading service providers in the country.

In the process, STL, through its advanced optical solutions and smart fibre deployment services, will support service providers in bringing high-speed connectivity to Indians in more than 20 states.

With its glass to gigabit capability, the company stated that it is well-positioned to cater to the needs of the Indian telecom industry. The companys manufacturing base in India with six plants, R&D-led products and fibre deployment services are powering fibre-densification for use cases like 5G, IoT and AI. Praveen Cherian, CEO, STL Global Services, said: "India stands on the cusp of digital leadership, characterised by rapid technological advancements and widespread adoption.

We are proud to contribute to this journey and are confident that through our specialised optical solutions and smart deployment services, we will enable service providers to shape the nation's digital future, driving economic prosperity."

Sterlite Technologies is a leading end-to-end solutions provider for global digital networks.

The firm had reported a consolidated net loss of Rs 57 crore in Q3 FY24 as against a net profit of Rs 51 crore recorded in Q3 FY23. Revenue from operations decreased 29.79% year on year (YoY) to Rs 1,322 crore in the quarter ended 31 December 2023.

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