SBI Card Q1 results: Net profit up 13.80% YoY to Rs 393 crore

New Delhi: SBI Card on Monday posted 13.80 per cent year-on-year (YoY) rise in net profit at Rs 393.29 crore for the quarter ended June 30. It had posted a net profit of Rs 345.59 crore in the corresponding quarter last year.

Total revenue from operation increased 4 per cent YoY to Rs 2,152.20 crore during the quarter under review against Rs 2,068.28 crore in the corresponding quarter last year.

The company posted nearly 28 per cent drop in total expenditure at Rs 134.98 crore in Q1FY21, over Rs 186.94 crore in Q1FY20.


“SBI Card has offered moratorium on credit card dues to eligible borrowers in accordance with board approved policy. The company, based on current estimates, has decided to continue with additional management overlay on expected credit loss (EGL) amounting total Rs 489.25 crore created during the quarter and year ended March 31,” SBI Card said, adding the impact of coronavirus remains uncertain.

Shares of the company closed 1.34 per cent higher at Rs 765.55 post the announcement of Q1 earnings, while the benchmark BSE Sensex settled 1.08 per cent higher at 37,418.