Analysts slash SBI Card's earnings estimates post Q2 result; shares tank 7%

SBI Card Q2 result: Analysts at Motilal Oswal Financial Services slashed SBI Card earnings by 8 per cent/10 per cent for FY24/FY25 as they expect the company to face margin pressure

Poor earnings show in the September quarter (Q2FY24), with hints of likely weakness in asset quality going ahead, forced analysts to cut earnings estimates of SBI Cards and Payment Services (SBI Card)  on Monday. On the bourses, shares of the State bank of India arm tumbled 7.4 per cent to Rs 732 apiece on the BSE in the intraday trade as investors factord in  near-term concerns.

Analysts at Motilal Oswal Financial Services, for instance, slashed SBI Card earnings by 8 per cent and 10 per cent for FY24 and FY25, respectively, as they expect the company to face