SBI Cards' Q1 Profit Dips Amid Rising Revenues

SBI Cards and Payment Services reported a 6% decline in net profit for the April-June quarter, despite a 12% YoY revenue increase. The net profit stood at Rs 556 crore compared to Rs 594 crore last year. Gross non-performing assets slightly increased, and shares closed slightly higher on BSE.

In a financial update, SBI Cards and Payment Services announced a 6% drop in net profit for the April-June quarter, amounting to Rs 556 crore, compared to Rs 594 crore in the same period the previous year. Despite this, the company experienced a notable 12% rise in revenue, reaching Rs 5,035 crore, up from Rs 4,483 crore last year.

The total balance sheet size as of June 30, 2025, was reported at Rs 66,009 crore, a slight increase from the Rs 65,546 crore recorded on March 31, 2025. The gross non-performing assets were marginally up, standing at 3.07% of gross advances as against 3.06% recorded a year ago, with net non-performing assets slightly increasing to 1.42% from 1.11%.

SBI Card, a non-banking financial entity with a broad credit card portfolio, saw its shares close at Rs 889.05 on the Bombay Stock Exchange, a 0.37% rise over the previous session.

(With inputs from agencies.)