SBI Cards and Payment Services reported a 75% year-on-year increase in profit after tax (PAT) to ₹778 crore in the September quarter of FY27, compared with ₹445 crore in the corresponding quarter last year.
Total income rose 3% year-on-year to ₹5,302 crore in Q2 FY27 from ₹5,136 crore in Q2 FY26, according to the company’s earnings release dated October 23.
Revenue from operations increased 4% to ₹5,141 crore from ₹4,961 crore a year earlier.
Interest income rose 1% year-on-year to ₹2,511 crore, while fees and other income increased 6% to ₹2,630 crore.
Finance costs rose 4% to ₹787 crore, while total operating costs increased 7% to ₹2,649 crore. Earnings before credit costs declined 1% to ₹1,865 crore.
Impairment losses and bad debt expenses fell 37% year-on-year to ₹819 crore from ₹1,293 crore in the year-ago quarter. Profit before tax increased 74% to ₹1,046 crore from ₹600 crore.
Business performance
SBI Card‘s cards-in-force increased 8% year-on-year to 2.32 crore as of September 2026, compared with 2.15 crore a year earlier. The company added 11.06 lakh new accounts during the quarter, up from 9.36 lakh in Q2 FY26.
Credit card spends rose 3% year-on-year to ₹1,10,689 crore from ₹1,07,063 crore. Receivables declined 2% to ₹58,376 crore from ₹59,845 crore.
The company’s market share in cards-in-force stood at 18.5% in Q2 FY27, compared with 19% a year earlier. Its market share in spends increased to 18.2% from 17.7%, based on RBI data available until August 2026.
Asset quality and capital adequacy
Gross non-performing assets (NPAs) stood at 1.90% of gross advances as of September 30, 2026, down from 2.85% a year earlier. Net NPAs declined to 0.77% from 1.29%.
The company’s capital adequacy ratio stood at 26.5% as of September 30, 2026, compared with 22.5% a year earlier. Tier I capital was 21.2%, up from 17.5%.
As of September 30, 2026, total assets stood at ₹71,102 crore, compared with ₹66,328 crore as of March 31, 2026. Net advances, after provisions, increased to ₹56,532 crore from ₹54,984 crore over the same period.