SBI Cards net doubles to Rs 175 crore in Q4FY21 on lower provisions

Interest income down 20% YoY to Rs 1,072 cr; other income more than doubles to Rs 159 cr

SBI Cards and Payment Services reported a net profit of Rs 175 crore in the March quarter (Q4) of financial year 2020-21 (FY21), up 110 per cent compared with the Rs 84 crore it reported in the corresponding period last year. This was because of lower provisions and a significant jump in other income and income from fees and services.
 
Its interest income declined 20 per cent year-on-year (YoY) to Rs 1,072 crore in Q4, while other income more than doubled to Rs 159 crore. Total revenue from operations declined by 5 per cent to Rs 2,039 crore and