Sterlite Technologies (STL) rose by 2.24 percent after winning a Rs 170 crore contract to build a unified network management system for Power Grid Corporation of India (PGCIL).

During today's market hours, the company announced a partnership with PGCIL to provide high performance, integrated network management systems across regional communications networks.

STL has previously supplied optical fibre cables and built an IP-MPLS network for PGCIL.

PGCIL owns and operates 90% of India's interstate and interregional power transmission network and 70% of its telecom network.

"We are delighted to form an association with PGCIL to create a customised UNMS for managing their massive utility networks," said STL CEO Praveen Cherian. Our solution will consolidate their inter-regional networks and provide centralised control. The network management system with integrated analytics will improve network operations management efficiency and effectiveness.

STL helps telcos, cloud companies, citizen networks, and large enterprises integrate digital networks.

In Q3 FY22, the company reported a consolidated net loss of Rs 137 crore, compared to net profit Rs 86.64 crore in Q3 FY21. From Rs 1,314 crore in Q3 FY21 to Rs 1,355.5 crore in Q3 FY22, revenue grew by just 3.1%