Sterlite Technologies to focus on ‘Make in India’ solutions !!

Pune:  Data network solutions provider Sterlite Technologies NSE 1.52 % said it is working on an end-to-end fibre optical and wireless interconnect ecosystem out of India. The company, which reported a 50% slump in net profit for the quarter ended March on account of the Covid-19 pandemic, said it expects demand to recover in the medium term.
“There is a shift to digitisation, which will be irreversible and will continue. Telecom operators world over want to strengthen their network,” said Anand Agarwal, CEO of Sterlite Technologies. Over the last 2 years, the company has been focusing on a mix of acquisitions and industry partnerships towards setting up an end-to-end ecosystem for ‘Make in India’ solutions in areas like hardware manufacturing and cloud computing. This includes partnerships with companies such as VMWare for cloud virtualisation infrastructure, VVDN for radio hardware solutions and IIT Madras for research, along with investments in ASOCS, a virtual radio access networks firm and the acquisition of IDS Group, a data centre design and deployment specialist. Agarwal said the company had a strong order book of Rs 10,000 crore going into FY21, which was double its revenues of Rs 5,154 crore for FY20. The company is also shifting toward a services-focused go-to-market strategy globally, with end-to-end fibre and optical solutions, which will help it expand the overall addressable market, including large-scale transformational projects. The company’s patent portfolio has expanded to 358 patents, mainly in the areas of optical connectivity, network services and virtualised access solutions. With the demand for high quality broadband growing, the company expects increased investments from telcos, enterprises and the government in fibre and large-scale network creation.

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