SBI Cards posts 1% drop in Q1 PBT at Rs 528 cr, net profit rises 13.8%

Spend per card fell sharply to Rs 72,000 in QFY21

SBI Cards and Payment Services Ltd posted a 1 per cent drop in its profit before tax (PBT) at Rs 528 crore in the quarter ended June 2020 (Q1FY21). The PBT was Rs 533 crore in quarter ended June 2019 (Q1FY20).

The net profit for the period under review rose 13.8 per cent to Rs 393 crore from Rs 346 crore in Q1FY20.

The company's stock closed almost flat at Rs 751.8 per share on BSE.

The interest income rose 34.6 per cent to Rs 1,412 crore for Q1FY21 from Rs 1,049 crore for Q1 FY20. However, the income from