NEW DELHI: Digital network integrator Sterlite Technologies (STL) said it aims to expand its fiber optic manufacturing capabilities from 33 to 42 million kilometers of fiber with an investment of Rs 200 crore and to open new facilities in the US and UK to chart its next phase of growth.
The Pune-based company stressed that these capacity improvements will support the planned expanded fiber optic deployments in the United States, Europe and the United Kingdom to boost rural broadband and 5G deployments.
At the same time, the company aims to achieve annual revenue of Rs 10,000 crore by the fourth quarter of fiscal 23, through sustained investment with deep customer engagement.
“The past year ushered in a decade of networking. STL has worked to enhance capabilities and capabilities through strategic investments in manufacturing, research and global talent, ”said Anand Agarwal, CEO of STL Group, at the company’s annual investor meeting in July. 1.
STL also plans to continue investing 3% of its annual turnover in research areas for optical solutions and wireless solutions, including 5G.
STL posted a 55% year-over-year increase in its consolidated net profit for the quarter ended March 2021 to Rs 124.4 crore, thanks to higher revenues.
Its net profit stood at around Rs 80 crore in the fourth quarter of FY20, while revenue reached Rs 1,475 crore in the March quarter, indicating 27% year-over-year growth.
“With the company recently receiving its first 5G patent in the United States and with ongoing product trials with customers in the United States and Asia-Pacific, STL is on its way to becoming a global leader in open 5G and FTTx implementations. source, ”he said in a statement. declaration.
STL provides integrated end-to-end 5G ready solutions ranging from wired to wireless, design to deployment, and connectivity to compute.