Tuesday, January 31, 2023
HomeBusinessSBI Cards shares rise, profit more than doubled in June quarter

SBI Cards shares rise, profit more than doubled in June quarter

SBI Cards and Payment Services: SBI Cards and Payment Services Limited’s (SBI Cards) net profit for the first quarter of the current financial year ended June 30 has more than doubled to Rs 627 crore. The company promoted by SBI (SBI Cards Net Profit) had earned a net profit of Rs 305 crore in the same quarter of the previous financial year.

The company gave information to the stock market
In the information sent to the stock exchanges, the credit card company said that its total income has increased to 3,263 in the quarter of the current financial year (2022-23). With this, its total income in the same period of the previous financial year was Rs 2,451 crore.

Decline in NPAs
On the asset quality front, the Gross Non-Performing Assets (NPA) of the company has come down to 2.24 per cent of the total loans as on June 30, 2022. As of June 30, 2021, it was 3.91 percent. At the same time, the company’s net NPAs came down to 0.78 percent in the June quarter. It was at 0.88 per cent in the same period a year ago.

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How much did the company’s share increase
Talking about the shares of the company, during today’s trading session, the stock has seen a rise of 4.40 percent i.e. Rs 39.10. After today’s trading, the stock has closed at the level of 927.90. Apart from this, this stock has increased by 4.86 percent in the last 5 days and 19.61 percent in the last one month.

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