Home / Companies / Results / SBI Cards profit drops 46% to Rs 206 cr in Q2, asset quality deteriorates

SBI Cards profit drops 46% to Rs 206 cr in Q2, asset quality deteriorates

Interest income of the company grew 10 per cent to Rs 1,275 crore in the reporting quarter, compared to Rs 1,162 crore in the corresponding quarter last financial year

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The company also saw its impairment losses and bad debts rise 162 per cent in Q2FY21 to Rs 862 crore

3 min read Last Updated : Oct 22 2020 | 11:14 PM IST

SBI Cards and Payment Services, the credit card arm of State Bank of India, has reported 46 per cent decline in net profit at Rs 206 crore in the second quarter (Q2) of 2020-21 (FY21), compared to Rs 381 crore in the same period last financial year. The decline is due to huge rise in provisions for bad debts in the quarter. However, its pre-provisioning profit grew 37 per cent to Rs 1,140 crore in Q2FY21, compared to Rs 831 crore in Q2 of 2019-20 (FY20).

Interest income of the company grew 10 per cent to Rs 1,275 crore in the

Topics : SBI Cards Q2 results

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