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SBI Card Q1 posts 14% rise in net profit at Rs 393 cr on interest income

Card spends during the June quarter fell to Rs 19,085 crore as against Rs 30,174 crore in the same period of 2019-20, SBI Card said in a release

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Segment-wise, the interest income was up 34.6 per cent at Rs 1,412 crore, while income from fees and services fell 27.1 per cent to Rs 668 crore

Press Trust of India New Delhi

3 min read Last Updated : Jul 20 2020 | 7:11 PM IST

SBI Cards and Payment Services Ltd (SBI Card) on Monday reported 14 per cent rise in net profit to Rs 393 crore in the first quarter ended June 30, mainly due to higher interest income.

The SBI promoted company had reported net profit of Rs 346 crore in April-June quarter of the fiscal ended March 2020.

Card spends during the June quarter fell to Rs 19,085 crore as against Rs 30,174 crore in the same period of 2019-20, SBI Card said in a release.

Receivables grew by 10 per cent to Rs 23,330 crore from Rs 21,231 crore.

Card-in-force grew

Topics : SBI Cards

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