SBI Cards and Payment Services Ltd reported its earnings for the first quarter of the financial year 2026-27. The company reported a 20 per cent year-on-year (YoY) rise in net profit for the June quarter (Q1 FY27), aided by lower credit costs and a decline in impairment losses, despite a marginal fall in interest income.
The company posted a profit after tax (PAT) of Rs 664 crore in Q1 FY27, compared with Rs 556 crore in the corresponding quarter of the last financial year. Profit before tax increased 19 per cent YoY to Rs 893 crore from Rs 748 crore.
Total revenue from operations rose 3 per cent YoY to Rs 5,041 crore in the reporting quarter, compared with Rs 4,877 crore in in the year-ago period.
Interest income declined 3 per cent YoY to RS 2,421 crore in Q1 FY27 from Rs 2,493 crore in Q1 FY26. Non-interest income, comprising fees, commissions and other income, grew 10 per cent YoY to RS 2,620 crore in the quarter under review from Rs 2,384 crore, helping offset the weakness in interest income.
Total income increased 3 per cent YoY to Rs 5,205 crore in June quarter, against Rs 5,035 crore a year earlier.
SBI Cards and Payment Services’ earnings received a boost from a sharp moderation in provisioning. Impairment losses and bad debts fell 30 per cent YoY to Rs 948 crore in Q1 FY27 against Rs 1,352 crore in the year-ago period.
Finance costs declined 8 per cent YoY to Rs 745 crore in the reporting quarter from Rs 813 crore in the year-ago period. However, operating costs rose 23 percent YoY to Rs 2,620 crore in Q1 FY27, up from Rs 2,123 crore in Q1 FY26.
SBI Cards Q1 FY27 results – Quick highlights
Gross NPA at 2.04% in Q1 FY27 vs 0.83% in Q4 FY26 QoQ
Profit at Rs 664 cr in Q1 FY27 vs Rs 556 cr in Q4 FY26, up 19.4% QoQ
NII at Rs 1,676 cr in Q1 FY27 vs Rs 1,680 cr in Q4 FY26
Total income at Rs 5,205 cr in Q1 FY27 vs Rs 5035 cr in Q4 FY26, down 3.4% QoQ
