{"id":135231,"date":"2022-10-27T13:28:43","date_gmt":"2022-10-27T17:28:43","guid":{"rendered":"https:\/\/44.250.171.167\/?p=135231"},"modified":"2022-10-27T13:28:45","modified_gmt":"2022-10-27T17:28:45","slug":"sbi-cards-q2fy23-results-out-net-profit-rises-by-52","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/sbi-cards-q2fy23-results-out-net-profit-rises-by-52\/","title":{"rendered":"SBI Cards Q2FY23 results out: Net profit rises by 52%"},"content":{"rendered":"\n<p class=\"has-text-align-justify\">SBI Card and Payments Services reported a 52 per cent jump in net profit in second quarter of FY23 quarter to INR 526 crore, thanks to a spike in income and lower provisions. In the year-ago period, it had reported a net profit of INR 345 crore. Its total income grew 28 per cent year-on-year (YoY) to INR 3,453 crore in Q2 as interest income increased by 26.5 per cent, fees and services income rose by 29.5 per cent, and other income grew 31 per cent YoY.<\/p>\n\n\n\n<p class=\"has-text-align-justify\">Impairment losses and\u00a0bad debts declined 8 per cent YoY to INR 546 crore, but increased 21 per cent sequentially. Asset quality improved with gross non-performing assets (NPAs) at 2.14 per cent, down 10 basis points (bps) sequentially and 122 bps YoY. Net NPA was down 13 bps to 0.78 per cent during the same time. The company added 1.3 million new accounts in Q2, up 36 per cent YoY and 43.5 per cent sequentially. Card-in-force grew 18 per cent YoY and 3.5 per cent sequentially to 14.82 million as of Q2FY23.<\/p>\n\n\n\n<p class=\"has-text-align-justify\">Spends grew 43 per cent YoY and 4.41 per cent sequentially to INR 62,306 in Q2FY23. While retail spends jumped 45.12 per cent YoY and 11.88 per cent sequentially to INR 50,895 crore, corporate spends were up 27.62 per cent YoY and dropped 19 per cent sequentially to INR 11,411 crore. Receivables in Q2 were to the tune of INR 37,730 crore, up 41 per cent YoY. SBI Card has 19.1 per cent and 18 per cent market share in cards in force and spends, respectively, according to the\u00a0<a href=\"https:\/\/www.business-standard.com\/topic\/rbi\" target=\"_blank\" rel=\"noreferrer noopener\">RBI<\/a>\u00a0data released for September 2022.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-default\"><img loading=\"lazy\" decoding=\"async\" width=\"847\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/fd023d62-4436-4e11-a30f-b93002815969-847x1024.png\" alt=\"\" class=\"wp-image-135232\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/fd023d62-4436-4e11-a30f-b93002815969-847x1024.png 847w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/fd023d62-4436-4e11-a30f-b93002815969-248x300.png 248w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/fd023d62-4436-4e11-a30f-b93002815969-768x928.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/fd023d62-4436-4e11-a30f-b93002815969-1271x1536.png 1271w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/fd023d62-4436-4e11-a30f-b93002815969-1695x2048.png 1695w\" sizes=\"auto, (max-width: 847px) 100vw, 847px\" \/><\/figure>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SBI Card and Payments Services reported a 52 per cent jump in net profit in second quarter of FY23 quarter to INR 526 crore, thanks to a spike in income and lower provisions. In the year-ago period, it had reported a net profit of INR 345 crore. Its total income grew 28 per cent year-on-year [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":49407,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,392,1],"tags":[10160,9923,8590],"class_list":["post-135231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-earnings","category-finance-stocks","tag-credit-card","tag-debit-card","tag-payment-services"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":132596,"url":"https:\/\/alphastreet.com\/india\/infographic-sbi-q1-net-profit-falls-by-6-7-on-standalone-basis-due-to-loss-in-treasury\/","url_meta":{"origin":135231,"position":0},"title":"Infographic: SBI Q1, Net profit falls by 6.7% on standalone basis due to loss in treasury","author":"Chirag Gupta","date":"August 8, 2022","format":false,"excerpt":"On Saturday State Bank of India reported a 1 per cent year-on-year (YoY) drop in net profit at Rs 7,325 crore compared with Rs 7,380 crore in the same quarter last year on a consolidated basis. Net interest income (NII) for the quarter rose 12.87 per cent YoY to Rs\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"trending stocks high volatility","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":143066,"url":"https:\/\/alphastreet.com\/india\/lic-q3fy23-net-profit-rises-to-6334-crores\/","url_meta":{"origin":135231,"position":1},"title":"LIC Q3FY23 net profit rises to 6334 crores","author":"Chirag Gupta","date":"March 1, 2023","format":false,"excerpt":"State-owned Life Insurance Corporation (LIC) reported a manifold increase in its net profit in the December quarter (Q3) of financial year 2022-23 (FY23), aided by a transfer of INR 5,670 crore from non-participatory to shareholders\u2019 accounts. Its net profit in Q3 stood at INR 6,334.19 crore, compared with INR 234.91\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":134646,"url":"https:\/\/alphastreet.com\/india\/wipro-q2fy23-results-out-revenues-up-by-15\/","url_meta":{"origin":135231,"position":2},"title":"Wipro Q2FY23 results out, Revenues up by 15%","author":"Chirag Gupta","date":"October 13, 2022","format":false,"excerpt":"On October 12, IT services major Wipro Ltd reported a 10% dip in its consolidated net profit for the quarter ended September 30, 2022. The company was already in the news as it fired 300 employees due to moonlighting.\u00a0\u00a0 The company gave a revenue growth guidance of 0.2-2 per cent\u2026","rel":"","context":"In &quot;LATEST&quot;","block_context":{"text":"LATEST","link":"https:\/\/alphastreet.com\/india\/category\/latest\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/wipro-logo-sustainability-1100x560-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/wipro-logo-sustainability-1100x560-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/wipro-logo-sustainability-1100x560-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/wipro-logo-sustainability-1100x560-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/wipro-logo-sustainability-1100x560-1.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":135262,"url":"https:\/\/alphastreet.com\/india\/indiamart-reports-its-q2fy23-results-net-profit-drops-by-17\/","url_meta":{"origin":135231,"position":3},"title":"IndiaMART reports its Q2FY23 results: Net profit drops by 17%","author":"Chirag Gupta","date":"October 31, 2022","format":false,"excerpt":"On Thursday, B2B e-commerce firm IndiaMART InterMESH reported a 17 per cent drop in consolidated net profit to INR 68 crore for the quarter ended September. The company had posted a net profit of INR 82 crore in the same period a year ago. The consolidated revenue from operations, however,\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"trending stocks high volatility","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/Trending-stocks.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":134651,"url":"https:\/\/alphastreet.com\/india\/hcl-tech-q2fy23-results-out-revenues-up-by-20\/","url_meta":{"origin":135231,"position":4},"title":"HCL Tech Q2FY23 results out, Revenues up by 20%","author":"Chirag Gupta","date":"October 13, 2022","format":false,"excerpt":"On October 12, IT services major HCL Technologies Ltd reported a 20% rise in its consolidated net profit for the quarter ended September 30, 2022 on the Y-O-Y basis. The share price fell by nearly 28% until the end of the day.\u00a0 The company also declared an interim dividend of\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/HCL-Tech.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/HCL-Tech.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/HCL-Tech.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/HCL-Tech.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":139335,"url":"https:\/\/alphastreet.com\/india\/wipro-reported-14-rise-in-its-revenues-in-q3fy23-results\/","url_meta":{"origin":135231,"position":5},"title":"Wipro reported 14% rise in its revenues in Q3FY23 results","author":"Chirag Gupta","date":"January 26, 2023","format":false,"excerpt":"Wipro on Friday reported a 2.8 per cent year-on-year (YoY) rise in net profit at Rs 3,052.90 crore compared with Rs 2,969 crore in the same quarter last year. Revenue for the quarter came in at Rs 23,229 crore, up 14.35 per cent over Rs 20,313.60 crore in the same\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c3f816da-cae0-4c9a-a43e-244ad448cf91.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c3f816da-cae0-4c9a-a43e-244ad448cf91.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c3f816da-cae0-4c9a-a43e-244ad448cf91.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c3f816da-cae0-4c9a-a43e-244ad448cf91.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c3f816da-cae0-4c9a-a43e-244ad448cf91.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c3f816da-cae0-4c9a-a43e-244ad448cf91.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/135231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=135231"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/135231\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/49407"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=135231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=135231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=135231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}