SBI Cards and Payment Services Q1FY21 net profit rises by 13.8 per cent YoY
SBI Cards and Payment Services Ltd. offering payment products and services in the form of corporate and credit cards, announced its first quarter results on July 20, 2020. The company recorded a net profit of Rs 393.29 crore for Q1FY21, which increased by 13.8 per cent YoY, compared to Rs 345.6 crore for Q1FY20.
Net Interest Income (NII) came in at Rs 1,137.47 crore in Q1FY21, which grew by 52.21 per cent YoY, compared to Rs 747.30 crore in Q1FY20.
Total income stood at Rs 2,195.6 crore for Q1FY21 that declined by 4.7 per cent YoY, as against Rs 2,304.27 crore for Q1FY20. Interest income stood at Rs 1,412.11 crore for Q1FY21, which increased by 34.58 per cent YoY, from Rs 1,049.24 crore for Q1 FY20.
Total operating profit in Q1FY21 came in at Rs 528.27 crore, which declined by 0.8 per cent YoY, as against Rs 532.54 crore in Q1FY20. Impairment losses & bad debts expenses for Q1FY21 stood at Rs 485.31 crore, which increased by 22.28 per cent YoY, compared to Rs 396.87 crore for Q1FY20.
As for the asset quality, the Provision Coverage Ratio stood at 68.25 per cent as of Q1FY21, as against 72 per cent as of Q1FY20. The gross non-performing assets were at 1.35 per cent of gross advances for Q1FY21, as against 2.68 per cent for Q1FY20. ROA stood at 6.3 per cent for Q1FY21, compared to 6.5 per cent for Q1FY20.
Capital Adequacy Ratio for Q1FY21 stood at 24.4 per cent i.e Tier 1 being 20.1 per cent.
The stock closed in the red at Rs 751.8 with a decline of 0.48 per cent on BSE.
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Particulars
|
Q1FY21
(Rs in cr)
|
Q1FY20
(Rs in cr)
|
per cent
variance
|
|
Net Profit
|
393.29
|
345.60
|
13.8
|
|
Net interest income
|
1,137.47
|
747.30
|
52.21
|
|
Operating profit
|
528.27
|
532.54
|
-0.8
|
|
Impairment expenses
|
485.31
|
396.87
|
22.28
|
|
Provision Coverage (per cent)
|
68.25
|
72.00
|
-3.75
|
|
Gross NPA(per cent)
|
1.35
|
2.68
|
-1.33
|
|
ROA (per cent)
|
6.3
|
6.5
|
-0.2
|