SBI Cards Q3 Results: Net profit falls 30% YoY to ₹383.2 crore | Stock Market News
Source: Live Mint
SBI Cards and Payment Services Ltd on Tuesday reported an 30% year-on-year fall in its consolidated net profit (attributable to owners of the company) for the fiscal’s third quarter ended December (Q3FY25) to ₹383.2 crore. The company had reported a profit of ₹549.1 cr crore in the year-ago period. SBI Cards shares ended 0.71% higher at ₹759 apiece on BSE.
SBI Cards ‘s consolidated revenue from operations stood at ₹4,767 crore during the quarter ended December (Q3FY25) from ₹4,742 crore in Q3FY24, a year-on-year rise of 1%.
The pure-play credit card company, promoted by SBI, had posted a net profit of ₹549 crore during the corresponding period of the previous financial year.
Its total income grew marginally to ₹4,767 crore during the October-December quarter from ₹4,742 crore in the year-ago period, SBI Card said in a regulatory filing.
The company’s total operating cost declined by 13 per cent to ₹2,107 crore for the third quarter of FY25 from ₹2,426 crore in the year-ago period, it added.
The gross non-performing assets (NPA) rose to 3.24 per cent during the quarter under review against 2.64 per cent a year ago.
Its net NPA too increased to 1.18 per cent from 0.96 per cent at the end of the December quarter of the previous financial year.
Impairment on financial instruments witnessed a 49 per cent jump to ₹1,313 crore compared to ₹883 crore in the same quarter a year ago.
