Sterlite Technologies share price added over a percent in the afternoon trade at Rs 203 on the BSE after the company bagged a Rs 170-crore order for building a unified network management system (UNMS) for Power Grid Corporation of India (PGCIL).
STL would fulfil Power Grid Corporation’s requirement for high performance and integrated network management systems across their regional communications networks, the company said in an exchange filing.
"With this multi-year deal worth Rs 170 crore, Sterlite Tech further strengthens its relationship with PGCIL. As a part of its earlier engagements, STL has been supplying optical fibre cables and developed an IP-MPLS network for PGCIL," it added.
"We are delighted to form an association with PGCIL for creating a customised UNMS for managing their massive-scale utility networks. Through our solution, we will provide a consolidated infrastructure with centralised controls for their inter-regional networks," said Praveen Cherian, CEO, Global Business Services at Sterlite Technologies.
“The network management system, with integrated analytics, will bring in efficiency and effectiveness setting superior standards in networks operations management.”
At 1.14 pm, the stock was trading at Rs 203, up Rs 2.35, or 1.17 percent on BSE. It touched an intraday high of Rs 206.80 and an intraday low of Rs 195.90.
The broadband technology firm posted a consolidated loss of Rs 137 crore in the December quarter on account of one-time provision for dues from a client The company had posted a profit of Rs 86.64 crore in the same period a year ago.
The company reported an order book of Rs 11,700 crore, 56 percent of which were orders from India, 35 percent from Europe and the Middle East, 7-8 percent from the US and the balance from the rest of the world.The share of orders from the overseas business was expected to grow in coming quarters, the company said.