SBI Card Q4 results: SBI Cards and Payment Services has released its fourth quarter FY24 results today, April 26. The company’s net profit has increased by 11.05 percent to Rs 662.37 crore in the January-March quarter. In the same quarter last year, the company had made a profit of Rs 596.47 crore. Meanwhile, today the company’s shares have fallen by 1 percent. This stock closed at Rs 750.40 on BSE.
How were SBI Card’s quarterly results?
SBI Card’s revenue from operations grew 15.6 per cent year-on-year to Rs 4,347.72 crore during the March quarter from Rs 3762.16 crore in Q4FY23. As of March 31, 2024, the gross NPA of SBI Cards and Payment Services is 2.76 percent and net NPA is 0.99 percent, whereas as of March 31, 2023, it was 2.35 percent and 0.87 percent. Additionally, the company has a total expected credit loss on loan balance of Rs 1,766.64 crore as of March 31, 2024, compared to Rs 1,360.64 crore as of March 31, 2023.
SBI Card’s interest income increased by 28 percent
The company’s interest income increased by 28 per cent to Rs 2,139 crore in Q4FY24, compared to Rs 1,672 crore in Q4FY23. Fees and commission income grew 6 per cent to Rs 2,209 crore in Q4FY24, compared to Rs 2,090 crore in Q4FY23.
The total balance sheet size as of March 31, 2024, was Rs 58,171 crore, while as of March 31, 2023, it was Rs 45,546 crore. Total gross advances (credit card receivables) as of March 31, 2024, stood at Rs 50,846 crore, while it stood at Rs 40,722 crore as of March 31, 2023.
Tags: SBI Card results Profit increased March quarter revenue increased
