Sterlite Technologies (STL) has added new orders of Rs 1,500 crore in the very beginning of 2020. The orders have range from continued business development of optical connectivity solutions, network services and software virtualization.
In early 2020, network creation capital expenditure has been accelerated by major European, Middle East, Africa and South East Asian network creators. STL had invested in these markets and has disproportionately benefited by this acceleration, driving over 65% of connectivity revenues from these international geographies.
Speaking on the firm’s latest feat, Dr. Anand Agarwal, the group CEO of STL, has stated that, “At STL, we have been focused on creating solutions for our customers that overcome their end-to-end problem statements – rather than just delivering some components. This has taken significant investment in technology and talent. We are pleased to see that our customers across Telcos, Cloud Companies, Citizen Network and Large Enterprises are realizing the value in holistic solutions – a trend that is reaffirming our value add as end-to-end data networks innovator.”
The disclosure was released after market hours yesterday, 19 February 2020.
On Wednesday, 19 February 2020, Sterlite Technologies rose 1.69% to end at Rs 111 on BSE.
Sterlite Technologies is engaged in designing, building and managing smarter digital networks. Its digital networks focused business products, services and software includes optical communication products, network and system integration services and operations support systems (OSS)/business support system (BSS) software solutions.
