SBI Cards and Payment Services has reported a 45% rise in profit to Rs 445 crore for the December quarter. The pure-play credit card company, promoted by SBI, had posted a net profit of Rs 383 crore during the corresponding period of the previous financial year.
Its total income rose to Rs 5,353 crore during the December quarter from Rs 4,767 crore in the year-ago period, SBI Card said in a regulatory filing.
The company’s operating cost increased 23% to Rs 2,597 crore for the third quarter of FY26 from Rs 2,107 crore in the year-ago period, it added.
With regard to asset quality, the company reported improvement with gross non-performing assets (NPA) declining to 2.86 per cent during the quarter under review against 3.24%a year ago.
However, the net NPA increased to 1.28% from 1.18% at the end of the December quarter of the previous financial year.
As per the capital adequacy norms issued by the RBI, the company’s capital to risk ratio consisting of Tier-I and Tier-II capital should not be less than 15% of its aggregate risk weighted assets on balance sheet and risk-adjusted value of off-balance sheet items, it said.
The company’s net worth rose to Rs 15,424 crore as against Rs 13,853 crore as of March 31, 2025.
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