SBI Cards Q4FY24 net profit grows 11% YoY to Rs 662.37 cr
Mumbai, April 26 -- SBI Cards and Payment Services on Friday reported a net profit increase of 11.05 percent to Rs 662.37 crore in the March quarter of the financial year (FY) 2023-24, up from Rs 596.47 crore recorded in the corresponding period last year.
The companys Gross NPA and Net NPA as of March 31, 2024, stand at 2.76 percent and 0.99 percent, respectively, compared to 2.35 percent and 0.87 percent, respectively, as of March 31, 2023.
Moreover, as of March 31, 2024, the Company holds a total expected credit loss on loan balances of Rs 1,766.64 crores, up from Rs 1,360.64 crores as of March 31, 2023.
Revenue from operations saw a 15.6 percent year-on-year increase to Rs 4,347.72 crore from Rs 3,762.16 crore in Q4 FY23.
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