SBI Cards and Payments Services witnessed a more than 7% drop in its share price during early trading on Monday following the release of its Q2 FY24 financial results. SBI Card shares fell by 7.45% to reach Rs 732.05 on the BSE, slipping below its IPO price of Rs 755 per share.
The company reported a 15% increase in net profit for Q2 FY24, reaching Rs 603 crore compared to Rs 526 crore in the same quarter the previous year. Revenues showed a significant 22% growth, rising to Rs 4,221 crore from Rs 3,453 crore year-on-year.
However, the increase in provisions had a negative impact on earnings, and the margin contracted by 12 basis points to 11.3% due to a decrease in yield, despite the stability in the mix of EMI and revolver rates.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
Download The App Now
Follow us on
2026, IIFL Capital Services Ltd. All Rights Reserved
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132 (Member ID - NSE: 10975 BSE: 179 MCX: 55995 NCDEX: 01249), DP SEBI Reg. No. IN-DP-185-2016, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, Merchant Banker SEBI Regn. No. INM000010940, RA SEBI Regn. No: INH000000248, BSE Enlistment Number (RA): 5016, AMFI-Registered Mutual Fund Distributor & SIF Distributor
ARN NO : 47791 (Date of initial registration – 17/02/2007; Current validity of ARN – 08/02/2027), PFRDA Reg. No. PoP 20092018, IRDAI Corporate Agent (Composite) : CA1099
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
