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SBI Card made a bumper profit in the fourth quarter, profit tripled to 581 crores

SBI Cards Q4 Result: Credit card company SBI Cards and Payment Services Limited’s (SBI Card) net profit more than tripled to Rs 580.86 crore in the quarter ended March. The company has made a bumper profit in the last quarter. SBI Card has given information about this to the stock market. Let us tell you that in the same quarter last year, the company’s profit stood at Rs 175.42 crore.

Interest income also increased
The company’s total income increased to Rs 3,016.10 crore between January and March as against Rs 2,468.14 crore in the same period last year. SBI Cards interest income also increased to Rs 1,266.10 crore in the quarter under review from Rs 1,082.42 crore last year. Income from fees and commissions also increased to Rs 1,426.81 crore as against Rs 1,113.81 crore in the same period last year.

Total income stood at 11,301.52 crore
Let us tell you that during the financial year 2021-22, the net profit of SBI Cards increased by 64 percent to Rs 1,616.14 crore as compared to Rs 984.52 crore in the financial year 2020-21. Its total income increased to Rs 11,301.52 crore in this financial year from Rs 9,713.58 crore a year ago.

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Decline in NPAs
SBI Card said that as on March 31, 2022, the company’s gross non-performing assets (NPA) stood at 2.22 per cent and net NPAs at 0.78 per cent. Last year it was 4.99 per cent and 1.15 per cent, respectively.

Company’s stock fell
Talk about the stock of SBI Card, the company’s stock has seen a decline of 2.79 percent in the last one month. At the same time, the stock of SBI Card has slipped 22.49 percent in the last 6 months, that is, it has seen a fall of Rs 240.25 per share. Let us tell you that on the last trading day of the week, the company’s stock has slipped by Rs 13.75, or 1.63 percent, to close at the level of 827.95.

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