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Journalism of Courage
International trading agency State Trading Corporation (STC) reported 47.2 per cent 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 per cent to Rs 19,984 crore in the period under review compared to the previous fiscal.
