Nelco partners with Speedcast Intl, Sydney

Tata Group company Nelco signed a partnership agreement with a communications and IT solutions provider, Speedcast International in Sydney to offer seamless global communications while at sea in Indian waters.

In this partnership, Nelco will also offer Speedcast’s industry-leading products and services which include cybersecurity, crew welfare, content solutions, and data and voice applications. The company said that under this agreement, Speedcast will integrate with the Nelco network to allow either parties’ customers to maintain the connection while roaming between the different satellite coverage beams and teleports.

In Q3FY19, net sales stood at Rs. 8.35 crore in December 2018, up 4.77 per cent from Rs. 7.97 crore in December 2017. The company’s net profit stood at Rs. 3.41 crore in December 2018 with an EPS of Rs. 1.49 per share, up 22.66 per cent from 2.78 crore in December 2017 with an EPS of Rs. 1.22 per share. The company’s EBITDA stood at Rs. 3.38 crore in December 2018, up 133.1 per cent from Rs. 1.45 crore in December 2017.

On Thursday, NELCO shares were trading at Rs.302.95 per share, up 3.88 per cent on the BSE.