The state-run telecommunications equipment maker has signed a memorandum of understanding (MoU) with Ilantus Technologies to deliver identity and access management (IAM) solution to government agencies, defence and public sector undertakings.
Under the Memorandum of Understanding (MoU), ITI and Ilantus Technologies will address the challenges of today's fragmented identity landscape through Identity and Access Management Solution. ITI and Ilantus will jointly market the solution to various customers.Further, ITI said it has recently received a letter of intent from Bharti Airtel for Fibre to the Home (FTTH) rollout in eight circles in the country. The work involves laying of optical fibre backbone for providing broadband connectivity throughout the country. The time period for execution of the order would be three months, the company said it regulatory filing.
The announcement was made post trading hours yesterday, 7 September 2020.
Shares of ITI fell 0.83% to Rs 131.35 on BSE. The scrip has surged 192.54% from its 52-week low of Rs 44.90 hit on 13 March 2020.
On a consolidated basis, ITI's net profit declined 47% to Rs 36.46 crore on 2.8% rise in net sales to Rs 650.48 crore in Q4 March 2020 over Q4 March 2019. The company is yet to declare its Q1 June 2020 results.
State-run ITI offers complete range of telecom products and total solutions covering the whole spectrum of switching, transmission, access and subscriber premises equipment. The Government of India holds 90.27% stake in ITI (as of 30 June 2020).
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