NEW DELHI: SBI Cards and Payment Services Ltd (SBI Card) on Friday reported a marginal improve in its net profit to Rs 596 crore in the quarter ended March 2023.
The pure-play bank card issuer had reported a net profit of Rs 581 crore in the identical quarter of the earlier fiscal.
The firm’s complete earnings throughout the January-March interval of 2022-23 rose to Rs 3,917 crore in opposition to Rs 3,016 crore in the yr-in the past interval, SBI Card stated in a regulatory submitting.
Its curiosity earnings elevated to Rs 1,672 crore in the quarter beneath evaluation from Rs 1,266 crore a yr in the past, whereas the earnings from charges and commissions rose to Rs 2,090 crore in contrast to Rs 1,584 crore, it stated.
For the complete 2022-23, the net profit of the cardboard firm promoted by SBI jumped 40 per cent to Rs 2,258 crore in opposition to Rs 1,616 crore in 2021-22.
The complete earnings throughout the yr grew to Rs 14,286 crore from Rs 11,302 crore in FY22.
The firm’s gross NPA (non-performing belongings) and net NPA as on March 31, 2023, have been 2.35 per cent and 0.87 per cent, respectively, in contrast to 2.22 per cent and 0.78 per cent a yr in the past, SBI Card stated.
The impairment losses and unhealthy money owed bills elevated by 60 per cent to Rs 630 crore in Q4 FY23 in opposition to Rs 393 crore a yr in the past.
The net price of the corporate elevated to Rs 9,902 crore in contrast to Rs 7,824 crore as of March 31, 2022.
The pure-play bank card issuer had reported a net profit of Rs 581 crore in the identical quarter of the earlier fiscal.
The firm’s complete earnings throughout the January-March interval of 2022-23 rose to Rs 3,917 crore in opposition to Rs 3,016 crore in the yr-in the past interval, SBI Card stated in a regulatory submitting.
Its curiosity earnings elevated to Rs 1,672 crore in the quarter beneath evaluation from Rs 1,266 crore a yr in the past, whereas the earnings from charges and commissions rose to Rs 2,090 crore in contrast to Rs 1,584 crore, it stated.
For the complete 2022-23, the net profit of the cardboard firm promoted by SBI jumped 40 per cent to Rs 2,258 crore in opposition to Rs 1,616 crore in 2021-22.
The complete earnings throughout the yr grew to Rs 14,286 crore from Rs 11,302 crore in FY22.
The firm’s gross NPA (non-performing belongings) and net NPA as on March 31, 2023, have been 2.35 per cent and 0.87 per cent, respectively, in contrast to 2.22 per cent and 0.78 per cent a yr in the past, SBI Card stated.
The impairment losses and unhealthy money owed bills elevated by 60 per cent to Rs 630 crore in Q4 FY23 in opposition to Rs 393 crore a yr in the past.
The net price of the corporate elevated to Rs 9,902 crore in contrast to Rs 7,824 crore as of March 31, 2022.
