SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 25 Jan, 2023  

SBI.9.Thmb.jpg SBI Cards Q3 PAT at Rs 509 crore on reduced NIM

SBI.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 25 Jan, 2023
Credit card major SBI Cards and Payment Services Ltd on Tuesday said it closed Q3 of FY23 with a higher net profit of Rs 509.46 crore.

In a regulatory filing, the company said for the quarter ended December 31, 2022, it had earned a total operational revenue of Rs 3,507.12 crore (Q3FY22 Rs 2,889.46 crore) and a net profit of Rs 509.46 crore (Rs 386.77 crore).

However the after tax profit for the period under review is lower than the Rs 525.64 crore profit the company had posted for Q2 of this fiscal.

The company's gross non performing asset (GNPA) and net NPA as of December 31, 2022 is 2.22 per cent and 0.80 per cent, respectively, as against 2.40 per cent and 0.83 per cent, respectively, as of December 31, 2021 and 2.22 per cent and 0.78 per cent, respectively, as of March 31, 2022.

As of December 31, 2022, the company holds total expected credit loss on loan balances of about Rs 1,272.88 crore (Rs 1,160.66 crore as of December 31, 2021) which includes a management overlay of about Rs 6.59 crore (vs about Rs 162.34 crore of December 31, 2021), the company said.

SBI Cards interest cost went up by 68 per cent year-on-year to Rs 464 crore and its operational cost went up by 15 per cent year-on-year to Rs 1,974 crore.

The net interest margin (NIM) declined to 11.6 per cent for the period under review compared to the previous quarter figure of 12.3 per cent.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter