 "SBI Card Q1 posts 14% rise in net profit to Rs 393 cr on interest income")
SBI Cards and Payment Services Ltd (SBI Card) on Monday reported 14 per cent rise in net profit to Rs 393 crore in the first quarter ended June 30, mainly due to higher interest income.
The SBI promoted company had reported net profit of Rs 346 crore in April-June quarter of the fiscal ended March 2020.
Card spends during the June quarter fell to Rs 19,085 crore as against Rs 30,174 crore in the same period of 2019-20, SBI Card said in a release.
Receivables grew by 10 per cent to Rs 23,330 crore from Rs 21,231 crore.
Card-in-force grew
