SBI Cards and Payment Services Limited (SBI Card) reported a 75% increase in second-quarter profit after tax to ₹778 crore, as lower credit-related charges offset rising operating costs.
The board approved the results Oct. 23 for the three months ended Sept. 30, 2026. Profit after tax was ₹778 crore (₹7.78 billion), compared with ₹445 crore (₹4.45 billion) in the year-earlier quarter. Profit before tax rose 74% to ₹1,046 crore from ₹600 crore.
Impairment losses and bad-debt expenses declined 37% to ₹819 crore from ₹1,293 crore, the main reported support for the higher profit. Earnings before credit costs slipped 1% to ₹1,865 crore. Operating expenses increased 7% to ₹2,649 crore, and finance costs rose 4% to ₹787 crore; the company attributed the latter increase to higher borrowing costs.
Total income advanced 3% to ₹5,302 crore (₹53.02 billion). Revenue from operations rose 4% to ₹5,141 crore, with interest income up 1% to ₹2,511 crore and fees and other income up 6% to ₹2,630 crore.
Asset-quality measures improved from a year earlier. Gross nonperforming assets were 1.90% of gross advances as of Sept. 30, down from 2.85%; net nonperforming assets fell to 0.77% from 1.29%.
Cards-in-force increased 8% to 2.32 crore (23.2 million). SBI Card added 11.06 lakh accounts during the quarter, compared with 9.36 lakh a year earlier. Spending rose 3% to ₹1,10,689 crore, while receivables declined 2% to ₹58,376 crore.
Managing Director and CEO Salila Pande said on the company’s Q2 FY27 earnings call that it expected retail-spending growth in the mid-teens to high-teens range for FY27 and receivables growth in the second half. On credit costs, she said the company was “comfortable between 5.5%-6%.”
