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SBI Cards Q4 Results: Profit Rises 11% YoY, Revenue Grows on Strong Interest Income

Updated: April 24, 2025 21:10

Image Source: Moneycontrol
SBI Cards and Payment Services Ltd reported robust financial results for the fourth quarter ended March 2024, driven by a surge in interest income and steady growth in its cardholder base.
 
Key Highlights:
  • Profit Growth: The company’s profit after tax (PAT) for Q4 FY24 rose 11% year-on-year to ₹662 crore, up from ₹596 crore in the same period last year.
  • Revenue Performance: Total revenue increased by 14% to ₹4,475 crore in Q4 FY24, compared to ₹3,917 crore in Q4 FY23.
  • Interest Income Surge: Interest income saw a significant jump of 28%, reaching ₹2,139 crore for the quarter, reflecting higher card usage and lending activity.
  • Steady Fee Income: Fees and commission income grew by 6% to ₹2,209 crore, indicating stable transaction volumes and service charges.
  • Annual Performance: For the full fiscal year 2023-24, PAT climbed 7% to ₹2,408 crore, while total income rose 22% to ₹17,484 crore.
  • Balance Sheet Expansion: The company’s balance sheet size increased to ₹58,171 crore as of March 31, 2024, up from ₹45,546 crore a year earlier, underscoring its expanding operations.
  • Cardholder Base: SBI Cards maintained a strong market presence with approximately 19 million cards in force as of the March quarter.
  • Stock Movement: Shares of SBI Cards closed at ₹750.40 on the BSE, down 1.02% from the previous close.
SBI Cards continues to strengthen its position as a leading non-banking financial company in India’s credit card market, leveraging growth in both lending and fee-based income streams.
 
Source: Business Standard

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