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STL Grows Order Book to Rs. 8,535 Crore in Q3FY20 With Strong Growth OutlookPUNE, India, Jan. 16, 2020 /PRNewswire/ -- STL (NSE: STRTECH), a global data networks innovator, announced financial results for the third quarter ending December 31, 2019. The company continues to grow its healthy order book of Rs. 8,535 crore with a strong growth outlook. Data growth is accelerating. Global data consumption will grow by 5-6x times in the next 5 years as all users and enterprise applications become data driven and the next 50% of the world comes online. Leading network creators are investing in this future.
The next phase of the Internet needs a ubiquitous, affordable and agile architecture. A new ecosystem has emerged that is open standards, software-driven and converged. STL is geared up to be a leader of the next generation ecosystem by innovating and delivering across all the layers of the data network. Continuing the relentless pursuit for driving customer value
Q3FY20 Financial Highlights Revenue: Rs. 1,203 crore Commenting on the results, Dr. Anand Agarwal, Group CEO, STL, said, "Amidst long term data network growth, the market environment in 2019 witnessed uncertainty and sluggish growth on account of the economic downturn. Within this business environment globally, we increased our order book over the last quarter and have shown a 21% revenue growth (9-months YTD) as compared to last year. Our transformation from an optical fiber company to an end-to-end data networks integrator has significantly increased our overall addressable market. We continue to be extremely bullish and focused on our data network integration capabilities by investing in growth areas such as Data Centers and Wireless solutions." About STL - Sterlite Technologies Ltd: STL is a global leader in end-to-end data network solutions. We design and deploy high-capacity converged fiber and wireless networks. With expertise ranging from optical fiber and cables, hyper-scale network design, and deployment and network software, we are the industry's leading integrated solutions provider for global data networks. We partner with global telecom companies, cloud companies, citizen networks and large enterprises to design, build and manage such cloud-native software-defined networks. STL has innovation at its core. With intense focus on end-to-end network solutions development, we conduct fundamental research in next-generation network applications at our Centres of Excellence. STL has a strong global presence with next-gen optical preform, fiber and cable manufacturing facilities in India, Italy, China and Brazil, along with two software-development centres across India and one datacentre design facility in the UK. STL.tech |Twitter | LinkedIn |YouTube Media Contact: Logo: https://mma.prnewswire.com/media/876464/Sterlite_Technologies_STL_New_Logo.jpg
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