Sbi Cards And Payment Services Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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SBI Cards reported Q1 FY26 total revenue from operations of ₹4,876.92 Cr, up about 12% year-on-year from ₹4,358.64 Cr in Q1 FY25, with total income rising to ₹5,035.39 Cr. However, profit after tax fell roughly 6.5% YoY to ₹555.96 Cr (from ₹594.45 Cr), even though it improved about 4% sequentially from ₹534.18 Cr in Q4 FY25. EPS stood at ₹5.84 versus ₹6.25 in the year-ago quarter. The decline in profits came on the back of sharply higher finance costs (₹812.82 Cr vs ₹766.83 Cr) and a steep jump in impairment on financial instruments (₹1,351.55 Cr vs ₹1,100.63 Cr). Asset quality was largely stable with Gross NPA at 3.07% and Net NPA at 1.42%, while Capital Adequacy Ratio remained healthy at 23.22% and debt-equity ratio at 3.20. The company also noted a change in joint statutory auditors, with V.K. Dhingra & Co. and S.P. Chopra & Co. now reviewing the results.
Strong revenue growth was offset by higher borrowing costs and provisioning, leading to YoY profit decline and margin compression — a cautious signal for short-term earnings. Sequential PAT growth and stable asset quality offer some comfort, but investors should watch for sustained improvement in credit costs before turning constructive.