SBI Card Q2 profit surges 75% to Rs 778 cr

New Delhi, Oct 23 (PTI) SBI Cards and Payment Services Ltd (SBI Card) on Friday reported 75 per cent growth in net profit at Rs 778 crore for September quarter FY27 as income improved and bad loans dwindled.

The pure-play credit card company, promoted by the country’s largest lender State Bank of India (SBI), had reported a net profit of Rs 445 crore in the previous quarter a year earlier.

Total income in the second quarter of the current fiscal year rose to Rs 5,302 crore from Rs 5,136 crore a year ago, SBI Card said in a regulatory filing.

Interest income increased to Rs 2,511 crore, while income from other sources improved to Rs 2,630 crore.

The company’s asset quality improved with gross non-performing assets moderating to 1.90 per cent of gross advances

as on September 30, 2026 from 2.85 per cent a year ago.

Net NPAs (bad loans) also declined to 0.77 per cent from 1.29 per cent in the corresponding quarter of the previous year.

As a result, impairment losses and bad debts expenses declined 37 per cent to Rs 819 crore in the September quarter from Rs 1,293 crore a year earlier, it said.

On capital adequacy, the company said the ratio increased to 26.5 per cent from 22.5 per cent at the end of September 2025. PTI DP DP ANU

ANU