SBI Cards Q3 PAT up 84% at Rs385.78cr on sharp rise in income from fees and services

26 Jan 2022 , 06:19 PM

SBI Cards Ltd reported 19.98% growth yoy in total revenues for the Dec-21 quarter on consolidated basis at Rs2,889.46cr. On a sequential basis, the revenues were higher for the quarter by 12.16%.

During the quarter, the company saw a sharp spike in income from fees and other services, while the interest income was also higher yoy.

In the latest quarter, the income from fees and services is nearly 15% higher than the income from interest charges. SBI Cards also saw a doubling of other income in the quarter.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was up 84% at Rs385.78cr on higher fee and services income, which also enjoys higher operating margins.

However, on a sequential basis, the net profits were up just about 11.85%. On a yoy basis, the impairment losses continued to be quite high at Rs625cr and almost flat.

Net margins tapered from 8.71% in the Dec-20 quarter to 13.35% in the Dec-21 quarter. However, net margins were flat on a sequential basis. The asset impairment continues to be quite high.

Financial highlights for Dec-21 compared yoy and sequentially

	SBI Cards Ltd
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 2,889.46	₹ 2,408.37	19.98%	₹ 2,576.24	12.16%
Net Profit (Rs cr)	₹ 385.78	₹ 209.66	84.00%	₹ 344.90	11.85%
Diluted EPS (Rs)	₹ 4.07	₹ 2.21		₹ 3.63
Net Margins	13.35%	8.71%		13.39%