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Street positive on SBI Cards despite Q3 miss, on strong growth expectations

Growth and earnings expectations remain strong

An SBI card (Representational image)
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SBI Cards reported a net profit of Rs 500 crore, down 3.1 per cent sequentially but up 32 per cent y-o-y

Devangshu Datta New Delhi
SBI Cards and Payments Services registered disappointing results, even as growth remained strong. Most analysts still hold positive views about the stock and have maintained buy/accumulate recommendations.

There are rising receivables and net interest margin (NIM) compression as the cost of funds has risen substantially. Analysts believe the company will be able to shift a larger component of the receivable mix towards equated monthly instalment (EMI) payments, which should help stabilise the NIM.

SBI Cards reported a net profit of Rs 500 crore, down 3.1 per cent sequentially but up 32 per cent YoY. The net interest income (NII) increased

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First Published: Jan 27 2023 | 7:49 PM IST

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