Sterlite Technologies gains after signing $288-million long-term contract

Sterlite Technologies advanced 2.05% to Rs 738 after the company announced that it had signed a long-term contract worth approximately $288 million with a leading hyperscaler.

The agreement involves the allocation of high-density optical fibre cable products to be supplied according to customer specifications during each calendar year from 2027 to 2029. Purchase orders will be released periodically over the contract period.

The agreement also establishes a reciprocal risk-sharing framework, with capped financial liabilities for both parties in the event of demand shortfalls or supply-capacity shortages.

The contract will remain in force for three calendar years, from CY2027 to CY2029, and may be extended by a further two years with the mutual consent of both parties.

Sterlite Technologies is a global leader in advanced connectivity solutions, providing end-to-end solutions for building AI-ready infrastructure, FTTx, rural, enterprise and data centre networks. data centre & cloud companies, telecom operators, internet service providers and large enterprises collaborate with the company to build their future-ready digital infrastructure.

The company's consolidated net profit surged 1,870% year on year (YoY) to Rs 197 crore in Q1 FY27, compared with Rs 10 crore in the corresponding quarter last year. Revenue from operations jumped 87.4% YoY to Rs 1,910 crore from Rs 1,019 crore in Q1 FY26.

Powered by Capital Market - Live News