 "This decade-old Sebi guideline is holding up much-awaited SBI Cards IPO")
SBI Cards and Payments Services, the credit card arm of the lender, reported a 52 per cent decline in net profit at Rs 210 in Q3FY21, compared to Rs 434.7 crore in the corresponding period of FY20 due to lower interest income and higher provisions.
The company’s interest income declined 9 per cent year on year (YoY) to Rs 1,168 crore in Q3FY21, compared to Rs 1,282 crore in Q3FY20. Revenue from operations was also in the red, declining 3 per cent yoy in the reporting quarter to Rs 2,403 crore. However, total income of the company was down marginally
