SBI Cards Q1 profit rises 20% as card spends jump 27% and credit costs ease
SBI Cards reported Q1 FY27 net profit of Rs 664 crore, supported by a 27% year-on-year rise in card spends to Rs 1.18 lakh crore and a 30% fall in impairment and bad-debt costs. Cards in force grew 7% to 22.6 million, while gross NPA improved to 2.04%.
SBI Cards reported a 20% rise in Q1 profit to Rs 664 crore as card spending grew 27% to Rs 1.18 lakh crore and bad loans improved. Lower credit costs offset higher operating expenses and a decline in interest income.
Why this matters
The result follows a recent signal previewing SBI Cards' Q1 FY27 earnings, which highlighted spending and credit costs, and confirms a prior update reporting 19.5% profit growth with 27% higher card spends.
Retail-company signals are accelerating, up 1,090,900% QoQ.