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Sterlite Tech says investing in 5G to develop Make in India ecosystem

Digital networks integrator Sterlite Technologies (STL) on Thursday said to strengthen and support the Make in India 5G ecosystem, it is investing in technology and assembling an ecosystem of partners comprising of hardware makers, cloud computing, and academia.

  • Updated On Jul 23, 2020 at 08:49 PM IST
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<p>Anand Agarwal, Group CEO, STL. (File Photo) </p>
Anand Agarwal, Group CEO, STL. (File Photo)
NEW DELHI: Digital networks integrator Sterlite Technologies (STL) on Thursday said to strengthen and support the Make in India 5G ecosystem, it is investing in technology and assembling an ecosystem of partners comprising of hardware makers, cloud computing, and academia.

STL said the ecosystem aims to create the next generation of digital networks by bringing together four technological confluences, namely, wired and wireless, software and hardware, connectivity and computing, and open source.

“We are seeing the current telecom infrastructure evolving to a new digital network architecture - virtual, converged, disaggregated, and close to the Edge”, said Anand Agarwal, Group CEO, STL.

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Agarwal added that STL is positioned with its 5G ecosystem and digital network integration capabilities to deliver next-generation digital networks for its customers globally.

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The company said it has recorded a cumulative order book of Rs 10,300 crore and revenues of Rs 876 for the first quarter ended June 30, 2020, on the back of multi-million awarded contracts in the UK, Africa, Middle East, Italy, and Russia.

It recorded an EBITDA of Rs 131 crore and PAT of Rs 6 crore, with exports accounting for over 51 percent of its revenue.

During this period, STL said it has further invested in building an end-to-end digital network ecosystem, including next-generation optical and wireless (5G) portfolios for all markets.

Earlier this month, STL announced Vision 2023 to investors and analysts, with plans to double the revenue to Rs 10,000, reduce net debt to equity by half to 0.5, and deliver a Return on Capital Employed (RoCE) above 20%, over the next three years.

The company added that its plants’ operational normalcy has restored almost fully across all facilities in India, Brazil, China, and Italy.
  • Published On Jul 23, 2020 at 05:10 PM IST
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