SBI Card Q4 results: Profit slips 19% to Rs 534 cr on higher impairment

SBI Card on Thursday reported a 19 per cent decline in profit to Rs 534 crore in the March quarter, on account of a rise in defaults.

Pure-play credit card company, promoted by SBI, SBI Cards and Payment Services Ltd (SBI Card) had earned a profit of Rs 662 crore in the fourth quarter of the previous fiscal.

However, total income rose to Rs 4,832 crore against Rs 4,475 crore in the year-ago period.

Interest income too improved to Rs 2,415 crore in Q4 FY25 as compared to Rs 2,139 crore in the same quarter a year ago.

During the quarter, the gross non-performing assets were at 3.08 per cent of gross advances against 2.76 per cent as of March 31, 2024.

Similarly, net non-performing assets rose to 1.46 per cent as compared to 0.99 per cent at the end of the fourth quarter of previous fiscal.

As a result, impairment losses and bad debts jumped to Rs 1,245 crore from Rs 944 crore a year ago.

For the full fiscal 2024-25 too, profit declined by 20 per cent to Rs 1,916 crore against Rs 2,408 crore in the previous financial year.

Total income increased to Rs 18,637 crore in FY25 from Rs 17,484 crore in the fiscal.

The size of the company's balance sheet as of March 31, 2025, was Rs 65,546 crore against Rs 58,171 crore a year ago.