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Sterlite Tech net profit jumps 65% to Rs 87 crore in December quarter

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NEW DELHI: Broadband solutions provider Sterlite Technologies Ltd (STL) on Wednesday reported a 65 per cent jump in consolidated net profit to around Rs 87 crore for the quarter ended December 2020.

The company had posted a net profit of around Rs 53 crore in the corresponding quarter of the previous financial year.

The company has announced the financial results for the third quarter ended December 31, 2020.

STL recorded revenues of Rs 1314 crores, demonstrating growth compared to last year and the preceding quarter. The outlook for 2021 looks promising as STL maintained its order book above Rs. 10,000 crores, and commercially launched new products for optical and wireless networks, setting the stage for disruptive growth in the 5G era.

2020 was a landmark year for Digital Networks

As the pandemic brought normal life to a standstill, 2020 established the power of digital networks beyond any doubt. With digital becoming the primary mode of human interaction, user penetration accelerated and network builders committed disproportionate investments.

This has triggered an unprecedented decade of network creation. As the new network drives connectivity to billions of unconnected users, 5G and FTTH became mainstream. A new architecture emerged, based on 4 key technology confluences of- i) wired and wireless, ii) hardware and software, iii) compute and connectivity, iv) at the edge. Recognizing these major shifts, STL focused on strengthening its core capabilities in optical solutions, network software, and system integration, while establishing new solutions in next-gen wireless access.

STL achieved strong results and established new solutions with marquee customers for future growth

In Q3, STL demonstrated continued growth and financial performance in its core business areas and invested in capability building, capacity enhancement, new product development, and the strengthening of its leadership team.

Some key highlights:

· Continued profitable growth. STL recorded consistent revenue growth in comparison with both the past quarter and the same period last year. This revenue growth has been driven by All-time high volumes of optical fibre and cables through deep customer engagement and Improved pace of network deployment, through process automation and robotics

· Investment in capabilities. After the successful investment in ASOCS to help drive virtual RAN solutions in early 2020, STL enhanced its Opticonn solutions with the acquisition of Optotec – a Europe based leader of Optical Interconnect Products. This strengthens STL’s end-to-end Optical Connectivity portfolio, and increased the STL’s addressable market by $8-10 Bn

· Enhancement of capacity. As the upcoming decade of digital network creation will keep driving demand for optical fibre, STL has committed Rs. 300 crores to expand its Optical Fibre Cable capacity from 18 to 33 million fibre kilometers. This expansion is on track for completion by June 2021

· Development of advanced technology products. STL’s R&D efforts have been pivotal in creating sustainable value for its customers. Telcos globally have entrusted their core network build outs to STL, given these advanced solutions. In this quarter, STL launched many disruptive products: 

o Celesta – industry’s most advanced high fibre count ribbon cable with STL’s indigenously developed Stellar fibre, that is fast and easy to deploy. This slim cable that holds nearly 7,000 optical fibres has helped STL win large scale deals with two leading European telcos for nationwide deployment of optical networks

o 5G Portfolio – across Multi-Band New Radio, Wi-Fi-6, and Indoor Small Cell – STL has developed comprehensive hardware plus software solutions for unique use cases such as indoor Garuda 5G Small cells, Outdoor multi-band radio and Wi-Fi6 offerings. These have been developed in compliance with O-RAN standards, and with an ecosystem of radio, software, and virtual infrastructure technology companies

· Strengthening of the core leadership team to drive growth – STL welcomed to its team, Sandeep Girotra as the Global Sales Head, and a range of leaders with deep expertise in the digital networks industry, core technologies, and key account management, across India, UK, and USA. STL also enhanced its Board of Directors with the appointment of industry leaders Mr BJ Arun, Mr S. Madhavan and Mr Ankit Agarwal

· Recognized by BCG amongst top 100 Tech Challengers for the next generation of innovation in emerging countries, on the back of STL’s continued growth and new unparalleled technology innovations

Q3’ FY 21 Financial Highlights

Revenue: Rs. 1,314 crores up 13% Q-o-Q

EBITDA: Rs. 238 crores up 12% Q-o-Q

PAT: Rs. 87 crores up 48% Q-o-Q

Order Book: Rs. 10,737 crores

Commenting on STL’s performance and outlook, Dr. Anand Agarwal, Group CEO, STL said “Our strong evolving suite of end-to-end converged network solutions is fundamental to our continued growth. Post 2020, we are looking at a decade of extensive network creation. Mindful of this, we have invested in strong global talent and built solutions that can deliver best-in-class digital networks across the globe. Our philosophy of deep customer engagement, coupled with sustained investments will help drive profitable growth for our key accounts, as they deliver the best digital experience to their customers.”

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Vi showcases 5G

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NEW DELHI: Vodafone Idea Limited (VIL), leading telecom operator, today demonstrated a range of 5G-based technology solutions as part of its ongoing 5G trials on government allocated 5G spectrum in Pune, Maharashtra and Gandhinagar, Gujarat.

According to Ravinder Takkar, MD & CEO, Vodafone Idea Limited, “With our 5G trials underway, Vi is preparing to take India on the next journey of fifth generation wireless mobile communication technology. Our 5G trials showcase a whole new world of possibilities across various domains that promise a new era of technology advancement in India. I am confident that 5G will bring a better tomorrow that will deliver significant benefits to consumers, businesses and society, driving digital economy growth in India.”

With the purpose for a better tomorrow, Vi has been conducting 5G trials and developed a wide range of use cases relevant for Enterprises and Consumers in India. Vi has partnered with industry leaders like L&T Smart World & Communication, Athonet, Indian start-ups like Vizzbee & Tweek Labs, and technology leaders – Ericsson and Nokia for trialling use cases in the two locations.

Committed to helping its customers thrive and have a better tomorrow, Vi is leveraging the power of 5G technology across segments such as industry 4.0, smart cities, smart healthcare, smart workplace, smart education, smart agriculture, gaming, amongst others. Vi’s trials have proven that high data speed, low latency and reliability of 5G technology, can bring about massive developments by enhancing business performance, revolutionizing customer experience, changing consumer lifestyle and positively impacting people dwelling in remote corners of India.

Vi has been allocated 26 GHz and 3.5 GHz spectrum in the mmWave band by the DoT, for 5G network trials and use cases. Vi has achieved peak speeds in excess of 1.5 Gbps on 3.5 GHz, more than 4.2 Gbps on 26 GHz and up to 9.8 Gbps on backhaul spectrum of E-bands.

The 5G trial network set up by Vi in Pune, deploys Ericsson Radios and Ericsson Dual Mode Core based on cloud native technology comprising of 5G SA, 5G NSA & LTE packet core functions. All use cases demonstrated in Pune have been developed over Ericsson’s 5G technology solutions.

In Gandhinagar, Vi is using Nokia’s AirScale radio portfolio and Microwave E-band solution for the trial that support enterprises, both large and small and medium businesses with reliable connectivity. Vi use cases in Gandhinagar were demonstrated via a live telecast at the special media preview held in Pune.

 

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LTI, IBM inaugurate innovation and experience center in Bengaluru

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NEW DELHI: Larsen & Toubro Infotech, a global technology consulting and digital solutions company has opened an Innovation & Experience Centre at LTI Whitefield campus in Bengaluru (India) focusing on IBM technologies. The Center will assist enterprises in modernizing their operations and accelerating digital transformation journeys.

This Innovation and Experience Center will showcase LTI solutions that have been co-created using IBM technologies such as IBM Cloud and Cloud Paks. The Centre will also serve as a forum for customers to engage with LTI and IBM technical resources for in-depth technology briefings, solution demos, software, tool access and solution workshops.

Sudhir Chaturvedi, President-Sales and Executive Board Member, LTI, said: “The rapid technological advances make it necessary for customers to experience solutions before adopting them. Our new center in Bengaluru fulfils this need for the joint customers of IBM and LTI. This center will offer combined benefits of LTI’s rich domain proficiency and IBM’s deep technical expertise, and thereby assist clients in their transformation journey.”

Through this center, IBM and LTI will collaborate and invest in creating joint solutions and develop industry viewpoints around digital transformation, hybrid cloud, data & AI, and security services. In addition, both LTI and IBM teams, will work with customers to address their requirements around driving digital transformation and managing multiple clouds.

Evaristus Mainsah, GM, Hybrid Cloud and Edge Ecosystem, IBM, said, “This center is an outcome of our growing alliance with LTI to help clients predict, automate, secure, and modernize their business operations. We are confident our clients will benefit from the ease of access to industry-specific assets and customized joint solutions with IBM’s open hybrid cloud approach that will help to accelerate their transformation journeys.”

Distinct features of the center include an IBM Playground for associates to explore and experiment with prototypes, History Zone that highlights LTI-IBM alliance journey, joint customer success stories, Innovation Zone for brainstorming on innovative ideas and planning future offerings, and Discussion Zone with feedback mechanism to ensure continuous improvement.

LTI has strong capabilities in IBM’s Digital Business Automation portfolio. LTI’s Automation consultants are helping clients in driving productivity improvements with industry specific pre-built IBM frameworks. Earlier this year, LTI and IBM had announced expansion of their global alliance.

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Cygnet Infotech’s Cygnature adds a new feature; helps procure an electronic stamp online

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NEW DELHI: Cygnature by Cygnet Infotech, the global Technology Products & Services company, has added an important feature called ‘e-stamp’ to its e-signing solution. Cygnature is an award-winning signing solution that securely authenticates signers, offers them a range of signature types for signing and protects the integrity of the documents.

With the e-stamp feature, businesses will be able to procure e-stamps through Cygnature platform and significantly ease the process of stamping documents.

COVID-19 has been a catalyst in pushing industries to move towards a paperless economy by offering a faster way of executing documents. Cygnet Infotech’s Cygnature supports organizations when it comes to digitally transforming their businesses. Cygnet Infotech’s Cygnature has added a useful feature ‘E-Stamp’ in its latest release providing multiple benefits. E-stamp can be generated within minutes using this feature. It can help you save time as physical stamp paper procurement is a time-consuming process. Users can prepay the stamp duty amount and then issue stamp papers against that balance.

With Cygnature, the solution can help digitize the process of paying the stamp duty and procuring e-stamp challan online rather than going to a stamp paper vendor to procure traditional stamp paper:

1. Initiate a workflow by uploading an agreement on Cygnature

2. Add E-stamp, select state and stamp duty amount to be paid for the relevant document category

3. Provide details of first and second party

4. On confirmation of details, the e-stamp challan will be generated and gets added instantly to the uploaded agreement

5. Both the parties can then continue to sign the document using Cygnature by adding placeholders to e-sign the document

6. The stamp duty amount will be deducted from the prepaid amount you deposit in your Cygnature account

7. The physical copies of the stamp paper will be couriered at the end of the month to the consumer’s address

Cygnature will not provide advice on the amount of stamp duty to be paid. This will have to be decided by the user.

Niraj Hutheesing, Founder & Managing Director at Cygnet Infotech said, “Cygnet Infotech’s product, Cygnature has been developed with an aim to promote seamless digital signing of documents. With the introduction of Cygnature’s E-stamp feature, we seek to further support businesses in speeding up the process of authorization of documents. Paying stamp duty is mandatory for many transactions across the country, and to simplify the process, e-stamp will help tackle counterfeiting and will further make the payment of stamp duty easier and glitch free.”

In this latest release, Cygnature’s E-stamp feature will be available for 5 states – Delhi, Gujarat, Maharashtra, Karnataka and Tamil Nadu.

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