Nelco Ltd. has invested in one of the major Software Defined Wide Area Network (SD-WAN) solutions providers, Piscis Networks Pvt. Ltd., for delivering comprehensive satellite communication solutions to customers.

Share Market Live

NSE

The Tata Group’s satellite communication service provider Nelco announced on Wednesday that it has invested in Piscis Networks for boosting its network performance, security and reliability services.

The investment is also set to expand Nelco’s service portfolio and push the company’s position in the integrated network solution provider industry, the company informed the stock exchanges.

It will also help the Tata company to deliver innovative satellite communication solutions to existing customers as well as new market segments.

“By leveraging the product portfolio and expertise of Piscis, we will augment our service offerings and provide our customers with enhanced satellite communication experiences,” said PJ Nath, the MD and CEO of Nelco, in a press release.

The Tata company remains optimistic about the future growth prospects of the satellite communication industry and aims at revolutionising communication across not only various sectors but also in the most remote parts of India.

For the quarter ended March 2023, Nelco’s net profit jumped 86.8 percent to Rs 5.66 crore compared to Rs 3.03 crore in the same period last year. Its net sales increased by 14.35 percent to Rs 81.98 crore in the quarter compared to Rs 71.69 crore in the year-ago period.

Shares of Nelco ended 1.2 percent lower at Rs 710.