Total income jumped around 60 percent to Rs 1,345.3 crore, compared with Rs 841.91 crore a year ago.
Indian Navy had awarded a Rs 3,500-crore contract to Sterlite Tech in February for designing, building and managing its communications network.
The company had clocked Rs 71.23 crore net profit in the same period a year ago.
"We are now looking to move fibre market share from 6-7 percent to 10 percent of global by June 2020," Agarwal said.
"Demand for high speed broadband is on rise which is keeping up demand for optical fibres. Demand for optical fibre cables almost doubled. Last year, we were operating at 40 percent capacity utilisation and now it has increased to the range of 80-90 percent," Sterlite Tech Chief Financial Officer Anupam Jindal told PTI.
The market breadth was in favour of the declines on Monday morning with 120 stocks advancing while 1532 stocks declined and 382 stocks remained unchanged. On the BSE, 266 stocks advanced while 1960 stocks declined and 79 remained unchanged.
The company had reported a net profit of Rs 49.12 crore in the same period a year ago, Sterlite Technologies said in a statement.
"At present, we deploy cables with 50 optical fibre. We are in talks with a leading Internet service provider to deploy cable with 864 optical fibre, which is more than 17 times current capacity being deployed. This will be first deployment of such high capacity in India. It will also support 5G deployment," Agarwal told PTI at the India Mobile Congress.
Tech Mahindra | Bajaj Auto | GMR Infra | Dalmia Bharat Sugar | JK Paper | Astec Life | Cupid | Wonderla Holidays | Zee Media | Pricol | Essel Propack | Torrent Power | DCM Shriram | IFB Industries | Bharat Electronics | Shriram City Union | Inox Leisure | Bajaj Finserv | Glenmark Pharma | NMDC and MOIL are stocks, which are in the news today.
Sobha, Mphasis, Sun TV, IFCI, Ashok Leyland, Tata Power, Brila Corp, Reliance Infra, Bharat Forge, Ansal Properties, Spice Mobility, JHS Svengaard Labs, Swaraj Automotives, MTNL, Patel Integrated Logistics, Vakrangee, Gujarat NRE Coke, Time Technoplast, Sumeet Ind, Lanco Infra, Sterlite Tech, Borosil, Sintex,
KRChoksey is bullish on Sterlite Tech and has recommended buy rating on the stock with a target of Rs 47 in its July 30, 2012 research report.
Sterlite Tech may rally to Rs 45, says SP Tulsian, sptulsian.com.
Hemen Kapadia of Chartpundit.com is of the view that one should buy Sterlite Tech with a long term view.
KRChoksey has come with its quarterly earning estimates on power & capital goods sector for March 2012. According to the research firm, imposition of import duty on power equipment would be another positive for Indian capital goods industry is a key factor to watch out for.
Axis Bank, Mundra Port and Sterlite Tech are good picks, says Deven Choksey, KRChoksey.
KRChoksey has come with its December quarterly earning estimates for power & capital goods sector.
KRChoksey is bullish on Sterlite Tech and has recommended buy rating on the stock with a target of Rs 70 in its August 1, 2011 research report.
Padmakshi Financial Services is bullish on Sterlite Tech and has recommended buy rating on the stock with a target of Rs 68 in its June 27, 2011 research report.
Buy Sterlite Tech around Rs 50-51, says Sanjeev Agarwal, Dynamix Research & Cap Mgmt.
On CNBC-TV18's new show Super Six, market gurus Rahul Mohindar of viratechindia.com, Abhijit Paul of BRICS Securities and Sanjeev Agarwal of Dynamix Research & Cap Mgmt, place their bets on two stocks each, thus offering investors a variety of options to choose from.
KRChoksey is bullish on Sterlite Tech and has recommended buy rating on the stock with a target of Rs 70 in its June 17, 2011 research report.
KRChoksey is bullish on Sterlite Tech and has recommended buy rating on the stock with a target of Rs 70 in its May 3, 2011 research report.
KRChoksey is bullish Sterlite Tech and has recommended buy rating on the stock with a target of Rs 96 in its January 31, 2011 research report.