SBI Cards Q2: Profit up 10% and revenue up 12%, asset quality improving:

News Topical, Digital Desk : SBI Cards and Payment Services has announced its September quarter results. In a statement released after market hours on Friday, the company reported a 10% year-on-year increase in profit to Rs 445 crore, compared to Rs 404 crore in the same quarter last year. The company's revenue also grew 12.2% to Rs 4,960 crore, compared to Rs 4,421 crore in the same quarter last year. The stock closed at Rs 930.4, up 0.21% on Friday.

Asset quality showed improvement

The company's asset quality showed improvement during the quarter. The company's gross NPAs stood at 2.85% as of September 30, 2025, compared to 3.27% a year ago on September 30, 2024. Gross NPAs stood at 3.07% in the June quarter. Net NPAs stood at 1.29% as of September 30, 2025, compared to 1.19% as of September 30, 2024. Net NPAs stood at 1.42% in the first quarter (Q1). This means NPAs have declined compared to both last year and the previous quarter.

How was the business? The company's total balance sheet size stood at Rs 69,862 crore as of September 30, 2025, compared to Rs 65,546 crore as of March 31, 2025. Total advances stood at Rs 57,856 crore as on September 30, 2025, as against Rs 53,935 crore as on March 31, 2025. The company's net worth stood at Rs 14,861 crore as on September 30, 2025, as against Rs 13,853 crore as on March 31, 2025.

Operational Performance Cards-in-Force grew by 10% year-on-year to 2.15 crore as against 1.96 crore in Q2 FY25 last year. New Accounts stood at 9.36 lakh in Q2 FY26, as against 9.04 lakh in Q2 FY25. Spends increased by 31% to ₹1,07,063 crore, compared to ₹81,893 crore in Q2 FY25. Receivables increased by 8% year-on-year to ₹59,845 crore, compared to ₹55,601 crore in the previous year.