SBI Card Q3 Results: Profit jumps 45% YoY as spends surge, asset quality improves

SBI Cards and Payment Services Ltd reported a strong performance for the December quarter, with consolidated net profit rising 45.3% year-on-year to ₹556.6 crore, compared with ₹383.2 crore a year earlier. Revenue grew 11% to ₹5,127.3 crore.

Finance costs declined 5% to ₹785 crore, while total operating expenses rose 23% to ₹2,597 crore, reflecting higher business activity. Earnings before credit costs increased 8% to ₹1,971 crore during the quarter.

Spending momentum remained robust, with total spends

surging 33% year-on-year to ₹1.15 lakh crore. Receivables grew 4% to ₹57,213 crore, while cards-in-force increased 8% to 2.18 crore. New account additions stood at 8.64 lakh during the quarter.

Asset quality showed improvement, with gross NPAs easing to 2.86% from 3.24% a year earlier, while net NPAs stood at 1.28%.

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Return ratios strengthened, with ROAA at 3.2% and ROAE at 14.7%. Capital adequacy remained healthy at 24.4%.

Ahead of the results, shares of SBI Card closed 1.75% higher at ₹784.50 on the NSE.