This program multiplies two sparse matrices in C. It takes in two matrices from the user and converts them to sparse form by removing all zero values and storing the row, column, and value of non-zero elements. It then performs the multiplication by iterating through each non-zero element in the first matrix and matching columns with row elements in the second matrix, summing the products of the values at matched indices into the result matrix. Finally, it prints out the sparse and result matrices.