Pune (Maharashtra) [India], July 22 (ANI/PRNewswire): STL (NSE: STLTECH), an industry leading integrator of digital networks, today announced financial results for the first quarter ended June 30, 2021.
The company recorded a strong cumulative order book of over Rs. 112 billion and revenue of Rs. 13.09 billion, backed by solid technology solutions and foundational capabilities.
Significant progress on focused global capability build strategyTo cater to the three network build cycles of 5G, FTTx and Rural broadband,Globalise System IntegrationStrategic acquisition in Europe — STL today announced that it will acquireDuring the quarter, STL also received its first FTTx orders in the UK for its network integration services businessGrow Optical BusinessCapacity enhancement to 42 Mn fKm with Investments in US and UK — Committing Rs. 2 billion investments to establish optical fibre cable manufacturing and RD labs in the UK and US. Through these plans, the company confirmed its plans to increase the OFC capacity to 42 Mn fKm, from an existing 33 Mn fKmLeveraging Optical Interconnect capabilities — With the acquisition of Optotec earlier this year, the company’s portfolio for end-to-end FTTx has opened up a total optical solutions addressable market of US$ 18 billionSuccessful field trials for Programmable FTTx — The company crossed a significant milestone by successfully integrating its pFTTx solution in the live broadband access network of Chunghwa TelecomBuild disruptive, wireless solutionsRecognized for leading technology solutions: STL has been acknowledged by Gartner as a global 5G RAN vendor, and as an Enabler in the Digital Marketplace and OSS/BSS Telecom customer software solutionsResearch and Development efforts: The company has committed 3-4% of its revenues towards RD for research and innovation in optical and wireless technologiesAs global trends re-energize, STL has been delivering on its financial plan. The company has demonstrated improvement across all financial metrics.
Financial highlights (in Rs. billion)Delivered responsibly, with strong ESG focusDuring the tough second wave of Covid-19, STL continued to maintain a strong focus on ESG. The company’s CSR initiatives positively impacted over 180,000 lives. STL’s environmentally conscious efforts were recognised widely across the Asian Leaders Awards for Waste Management and Best Corporate Responsibility Practices.
Explaining these strategic moves and achievements, Dr. Anand Agarwal, Group CEO, STL, remarked, "During the current unprecedented times, STL continues to provide support in the form of extended services and stronger connectivity to our community and customers. We take pride in solving our customers’ challenges through our global end-to-end solutions." He added, "In anticipation of the shifts in the industry, STL has continued to strengthen its technology capabilities through investment in developing ecosystems and hiring top industry talent. As we increase our participation in our customers’ digital transformation, we have built a healthy order book, and are confident of delivering the most advanced digital networks for our customers."This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)