Report Wire - SBI Card Q3 revenue rises 32% to ₹509 crore; dangerous loans decline

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SBI Card Q3 revenue rises 32% to ₹509 crore; dangerous loans decline

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The company

(PTI) SBI Cards and Payment Services Ltd on Tuesday reported a 32 per cent rise in its December quarter web revenue at ₹509 crore.

The pure-play bank card firm, promoted by SBI, had posted a web revenue of ₹386 crore in the course of the corresponding interval of the earlier monetary 12 months.

The firm’s complete revenue grew marginally to ₹3,656 crore throughout October-December 2020, towards ₹3,140 crore within the year-ago interval, it stated in a regulatory submitting.

Total Operating value elevated by 15 per cent at ₹1,974 crore for the third quarter of FY23 from ₹1,719 crore in FY22, it stated.

Its gross non-performing belongings (NPA) declined to 2.22 per cent in the course of the quarter underneath evaluation as towards 2.40 per cent a 12 months in the past.

The web NPA too eased to 0.80 per cent from 0.83 per cent on the finish of December quarter of earlier monetary 12 months.

As a end result, impairment losses and dangerous money owed bills decreased by 15 per cent at ₹533 crore from ₹625 crore in FY22.

 

 

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