SBI Card Q4 FY24 Revenue Rises 14 percent to Rs 4,475, PAT Grows 11 percent to Rs 662 Crore

The Board of Directors of SBI Cards and Payment Services Limited approved the Company's results for the Q4 FY24 and financial year ended March 31, 2024, at their meeting held on Friday, April 26, 2024.

The company’s total Revenue increased by 14% YoY at Rs 4,475 Cr in Q4 FY24 vs Rs 3,917 Cr in Q4 FY23. While the PAT increased by 11 % YoY at Rs 662 Cr in Q4 FY24 vs Rs 596 Cr in Q4 FY23.

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Total income increased by 14% at Rs 4,475 Cr in Q4 FY24 vs Rs 3,917 Cr in Q4 FY23 and the Interest income increased by 28% at Rs 2, 139 Cr in Q4 FY24 vs Rs 1,672 Cr in Q4 FY23.  

The Gross non-performing assets were at 2.76% of gross advances as of March 31, 2024, as against 2.35% as of March 31, 2023. Net non-performing assets were at 0.99% as of March 31, 2024, as against 0.87% as of March 31, 2023.

 

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As per the capital adequacy norms issued by the RBI, the Company's capital-to-risk ratio consisting of tier I and tier II capital should not be less than 150/o of its aggregate risk-weighted assets on the balance sheet and of the risk-adjusted value of off-balance sheet items. As of March 31, 2024, the Company's CRAR was 20.5% compared to 23.1 % as of March 31, 2023.

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