New Delhi, Oct 29 (UNI) Non-banking finance and payment services company SBI Card today reported 33 per cent dip in Profit After Tax (PAT) y-o-y basis during Q2 (July-September) of current financial year at Rs 404 crore versus Rs 603 crore in the same quarter of previous financial year that is 2023-24.
Total revenues of the company grew 8 per cent at Rs 4,556 crore in the Q2 this fiscal as against Rs 4,221 crore during Q2 of 2023-24, the company said in a release.
SBI Cards and Payment Services Limited is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients which includes lifestyle, rewards, travel & fuel, and banking partnerships cards along with corporate cards covering all major cardholders’ segments in terms of income profile and lifestyle.
The Gross non-performing assets were at 3.27 per cent of gross advances as of September 30, 2024, as against 2.43 per cent as of September 30, 2023. Net non-performing assets were at 1.19 per cent as of September 30, 2024, as against 0.89 per cent as of September 30, 2023.
Total Balance Sheet size as of September 30, 2024, was Rs 61,872 crore as against Rs 58,171 crore as of March 31, 2024, the company said adding total Advances (Net of provisions) as of September 30, 2024, were Rs 53,596 crore, as against Rs 49,079 crore as of March 31, 2024.
The Net worth of SBI Card stood at Rs 13,161 crore as of September 30, 2024 as against Rs 12,156 crore as of March 31, 2024, it said.
