STC income down 47% at Rs 56.43 cr in FY11
International trading agency State Trading Corporation (STC) today reported 47.2% decline in its net profit to Rs 56.43 crore for the 2010-11 fiscal.
During 2009-10, the PSU had registered a net profit of Rs 106.9 crore, according to a BSE filing.
The company, which sells items in the range of textiles, commodities, chemicals and drugs, witnessed its domestic sales decline to Rs 554.69 crore in 2010-11 from Rs 955.76 crore in the previous fiscal, while its exports nosedived from Rs 1,503.79 crore in 2009-10 to Rs 491.93 crore in the reported period.
Net sales declined by seven% to Rs 19,984 crore in the period under review compared to the previous fiscal.