SBI Card Q1FY24 results: PAT down 5.27% to 593 crore, revenue up 26%

SBI Card posted a drop of 5.27 per cent in its profit after tax (PAT) to Rs 593.31 crore for the quarter that ended on June 30, compared to the same period last year when it was Rs 626.91 crore. As compared to the previous quarter, which ended on March 31, the PAT declined 0.5 per cent from Rs 596.47 crore.

The company's revenue from operations went up by 26.18 per cent year-on-year to reach Rs 3,911.88 crore for the quarter that ended on June 30, 2023. Sequentially, the revenue from operations grew 3.97 per cent and ended at Rs 3,911.88 crore from Rs 3,762.16 crore.

The interest income saw YoY a rise of 30.05 per cent as it reached Rs 1,804.23 crore from Rs 1,387.30 crore during the same period last year. Sequentially, the interest income grew by 7.88 per cent from Rs 1,672.35 crore during Q4FY23.

The shares of SBI Card closed 0.42 per cent in the red at Rs 856.50 apiece on the BSE.