You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Sterlite Tech gains on partnership with Vocus Group

Capital Market 

Sterlite Technologies rose 1.95% to Rs 274.40 after the company announced a partnership with Vocus Group, a specialist fibre and network solutions provider in Australia.

The deal would help strengthens STL's presence in the Australian market, helping network creators deploy high capacity nationwide networks faster.

Vocus Group is Australia's specialist fibre and network solutions provider, connecting all mainland capitals with Asia and the USA. Regionally, Vocus has backhaul fibre connecting most regional centres in Australia. Vocus also operates an extensive and modern network in New Zealand, connecting the country's capitals and most regional centres.

In total, the Vocus terrestrial network is c.30,000 route-km of high performance, high availability fibre-optic cable, including 4,600km of submarine cable connecting Singapore, Indonesia and Australia and 2,100 km of submarine cable between Port Hedland and Darwin and connecting offshore oil and gas facilities in the Timor Sea.

Vocus owns a portfolio of well-recognised brands catering to enterprise, government, wholesale, small business and residential customers across Australia and New Zealand.

Vocus will leverage STL's Opticonn solution, which offers a range of optical fibre and cable products, optical interconnect offerings and pre-connectorized kits.

Ankit Agarwal, CEO, connectivity solutions business, STL, said, "We are excited to partner with Vocus for the expansion of their fibre network that will connect millions across Australia. Our end-to-end capabilities for global digital networks form a strategic fit with Vocus's long-term goals and we look forward to delivering innovative solutions that can help drive these outcomes."

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

On a consolidated basis, the company's net profit grew 54.86% to Rs 124.40 crore on a 27.15% rise in net sales to Rs 1,475.01 crore in Q4 FY21 over Q4 FY20.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, June 09 2021. 12:31 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU