SBI Cards and Payment Services Limited has reported a significant 75% year-on-year increase in its profit after tax (PAT) for the quarter ending 30 September 2026. The PAT rose to ₹778 crore from ₹445 crore in the same quarter last year. This substantial growth was driven by a combination of increased revenue and reduced impairment losses.
The company’s total revenue for the second quarter of the fiscal year 2027 increased by 3% to ₹5,302 crore, compared to ₹5,136 crore in the previous year. The growth in revenue was supported by a 1% rise in interest income, amounting to ₹2,511 crore, and a 6% increase in fees and other income, which reached ₹2,630 crore. However, finance costs also saw a 4% increase, reaching ₹787 crore, attributed to higher borrowing costs.
SBI Card’s operating costs rose by 7% to ₹2,649 crore, but the company managed to reduce its impairment losses and bad debts expenses by 37%, bringing them down to ₹819 crore from ₹1,293 crore in the previous year. This reduction in impairment losses contributed significantly to the improved profitability.
The company’s balance sheet also showed positive trends, with total assets growing to ₹71,102 crore as of 30 September 2026, up from ₹66,328 crore on 31 March 2026. Total advances, net of provisions, increased to ₹56,532 crore from ₹54,984 crore over the same period. Asset quality improved, with the gross non-performing assets ratio declining to 1.90% from 2.85% a year earlier, and the net non-performing assets ratio decreasing to 0.77% from 1.29%.
SBI Card’s capital adequacy ratio stood at 26.5%, with Tier 1 capital at 21.2%, both well above the regulatory requirements. The company’s market share in card-in-force slightly decreased to 18.5% from 19.0%, while its share of spends increased to 18.2% from 17.7%.
Analysts view the results as a positive indicator of SBI Card’s robust financial health and effective risk management strategies, despite the slight dip in market share for card-in-force. The company’s strong capital position and improved asset quality are expected to support its continued growth in the competitive credit card market.
