SBI Card Q3 Results Review: Credit Cost Concerns Spark Ratings, Target Price Cut
The company's standalone net profit rose 7.8% year-on-year to Rs 549.1 crore, and the total income gained 20.1% to Rs 4,714.6 crore for the quarter ended December.
SBI Cards & Payment Services Q3 FY24 Results Live: Profit Rises by 7.78% YoY
SBI Cards & Payment Services Q3 FY24 Results Live: Revenue Increased by 31.78% YoY & Profit Increased by 7.78% YoY
SBI Cards and Payment Services Ltd - 543066 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper Publications - Unaudited Financial Results of the Company for the quarter and the nine months ended December 31, 2023
SBI Cards and Payment Services Results Earnings Call for Q3FY24
Conference Call with SBI Cards and Payment Services Ltd. Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript. SBI Cards and Payment Services Ltd - 543066 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Audio recording - SBI Card 3Q''''FY24 Earnings Call. Q3FY24 Quarterly Result Announced for SBI Cards and Payment Services Ltd.
Non-banking Financial company SBI Cards & Payments Services announced Q3FY24 results: Financial Performance: Revenue: The total revenue of the company saw a significant increase of 30% YoY, with Q3FY24 revenue being Rs 4,742 crore compared to Rs 3,656 crore in Q3FY23. Profit After Tax (PAT): PAT grew by 8% YoY to Rs 549 crore in Q3FY24, up from Rs 509 crore in the same quarter of the previous year. Return on Assets (ROAA): The ROAA was recorded at 4.1% in Q3FY24, witnessing a decline from 4.8% in Q3FY23. Return on Equity (ROAE): ROAE stood at 19.2% in Q3FY24, a decrease from 22.0% in Q3FY23. Capital Adequacy Ratio: The company maintains a capital adequacy ratio (CRAR) of 18.4% with Tier 1 capital at 16.3%. Business Development: New Accounts: The volume of new accounts was down by 33%, with 1,096K new accounts in Q3FY24 compared to 1,634K in Q3FY23. Cards in Force: There was a 16% growth in cards in force, reaching 1.85 crore as of Q3FY24 from 1.59 crore as of Q3FY23. Spends: Card spend increased significantly by 41%, with Rs 96,860 crore in Q3FY24 compared to Rs 68,835 crore in Q3FY23. Receivables: The receivables showed a growth of 26%, rising to Rs 48,850 crore in Q3FY24 from Rs 38,626 crore in Q3FY23. Market Share: Market share for card-in-force stood at 18.9% (FY23: 19.7%), while spends had a market share of 18.3% (FY23: 18.2%). Earnings Components: Interest Income: Interest income rose by 29% to Rs 2,082 crore in Q3FY24 from Rs 1,609 crore in Q3FY23. Non-Interest Income: There was an increase of 34% in non-interest income, which amounted to Rs 2,539 crore in Q3FY24, up from Rs 1,898 crore in Q3FY23. Finance Costs: Finance costs went up by 50% to Rs 695 crore in Q3FY24 compared to Rs 464 crore in Q3FY23. Operating Costs: Total operating costs increased by 23%, standing at Rs 2,426 crore in Q3FY24 as opposed to Rs 1,974 crore in Q3FY23. Asset Quality: Gross NPAs: Gross non-performing assets were 2.64% of gross advances as of December 31, 2023, against 2.35% as of March 31, 2023. Net NPAs: Net non-performing assets were at 0.96% as of December 31, 2023, compared to 0.87% as of March 31, 2023. Capital and Ratings: Total Balance Sheet Size: As of December 31, 2023, the total balance sheet size reached Rs 55,576 crore, up from Rs 45,546 crore as of March 31, 2023. Net Worth: The net worth of the company was Rs 11,724 crore as of December 31, 2023, an increase from Rs 9,902 crore as of March 31, 2023. Ratings: The company boasts a CRISIL long-term rating of AAA/Stable and a short-term rating of A1+. Similarly, ICRA has also rated the company AAA/Stable for the long-term and A1+ for the short-term. Result PDF SBI Cards and Payment Services Ltd - 543066 - Announcement under Regulation 30 (LODR)-Change in Directorate
Appointment of Mr. Ashwini Kumar Tewari (DIN:08797991) as a Nominee Director on the Board of the Company, subject to the approval of the Shareholders of the Company. SBI Cards and Payment Services Ltd - 543066 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release on the Financial Results of the Company for the Quarter and the nine months ended December 31, 2023 SBI Cards and Payment Services Ltd - 543066 - Announcement under Regulation 30 (LODR)-Investor Presentation
Disclosure under Regulation 30 of SEBI( Listing Obligations and Disclosure Requirements) Regulations, 2015 - Copy of Presentation made for Analysts/Investors on Financial Results