SBI Cards Q2 Results FY2023, Net Profit at Rs. 526 Crores
On 27th October 2022, SBI Cards and Payment Services Ltd announced its second quarter results for the period ending 30th September 2022.
Q2FY23 Performance updates:
- Total income at Rs. 3,453 crores for Q2 FY23.
- Interest income increased by Rs. 311 Crores to Rs.1,484 Crores for Q2 FY23
- Income from fees and services increased by Rs. 367 Crores to Rs.1,611 Crores for Q2 FY23
- Other income increased by Rs. 37 Crores to Rs.156 Crores for Q2 FY23
- Finance costs increased by Rs. 114 Crores to Rs. 368 Crores for Q2 FY23
- Total Operating cost increased by 33% at Rs. 1,834 Crores for Q2 FY23
- Profit before tax increased by Rs. 242 Crores or 52.2% to Rs. 706 Crores for Q2 FY23
- Profit after tax increased by Rs. 181 Crores or 52.5% to Rs.526 Crores for Q2 FY23
- Total Balance Sheet size as of September 30, 2022 was Rs.41,581 Crores
- Total Gross Advances (Credit card receivables) as of September 30, 2022 were Rs.37,730 Crores
- Net worth as of September 30, 2022 was Rs. 8,991 Crores
SBI Cards Q2 Results FY2023 Video:
- The Gross non-performing assets were at 2.14% of gross advances as on September 30, 2022. Net non-performing assets were at 0.78%.
- As of September 30, 2022, Company’s CRAR was 23.2% compared to 25.0% as of September 30, 2021.
- New accounts volume at 1,295K accounts for Q2 FY23 up by 36% vs. 953K accounts for Q2 FY22
- Cards-In-Force grew by 18% to 1.48 Cr as of Q2 FY23
- Spends grew by 43% at Rs. 62,306 Crores for Q2 FY23 vs Rs. 43,560 Crores for Q2 FY22
- Spends at 18.0% for H1FY23
- Receivables grew by 41% to Rs. 37,730 Crores as of Q2 FY23
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DisclaimerInvestment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
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