SBI Cards on Thursday reported its profit after tax (PAT) at Rs 345 crore for the quarter ended September 30, 2021, recording a growth of 13 per cent QoQ. The company had a profit of Rs 304 crore in the quarter ended June 30 2021.
Its PAT has increased by 66 per cent from Rs 206.15 crore for the corresponding July-September period in the previous fiscal year 2020.
The credit card company, promoted by the country's largest lender SBI, posted an increase in its total income at Rs 2,695 crore, compared to Rs 2,450 crore during the quarter ended June 2021.
The price of its EPS increased to Rs 3.77 from Rs 3.24 in the previous quarter.
The company's gross non-performing assets (NPA) and net NPA as of September 30, 2021, is 3.36 per cent and 0.91 per cent, respectively, compared to 4.29 per cent and 1.52 per cent, respectively, as of September 30, 2020.
Further, the company holds Rs 1,347.27 crore as of September 30, 2021 (vs Rs 2,052.92 cr as of September 30, 2020) as total expected credit loss on loan balances. This includes a management overlay of Rs 231.13 crore ( vs Rs 757.72 crore of September 30, 2020)
SBI Cards said its debt-equity ratio is 2.7, and holds a capital redemption reserve of Rs 3.4 crore. Its net profit margin is at 12.62 per cent, capital adequacy ratio at 25.04 per cent. The company's provision coverage ratio is 73.65 per cent, and the asset coverage ratio is 175.13 per cent.