STC posts net loss of Rs 45 cr in Q2

State Trading Corporation today reported net loss of Rs 44.87 crore for the second quarter ended September 30, 2013-14, on account of a sharp decline in income from operations.

It had registered net profit of Rs 3 crore in the July- September quarter of the previous fiscal, 2012-13, STC said in a filing to the BSE.

STC sells textiles, commodities, chemicals and drugs.

The company's total income from operations decreased to Rs 1,903 crore in the Q2 of 2013-14, compared to Rs 3,247 crore in the same period last year.

Net sales of STC were down at Rs 1,859 crore during Q2, compared to Rs 3,131 crore in the year-ago period.

STC scrip closed at Rs 163.35, down 3.71%, on the BSE.