SBI Card fourth quarter internet doubles to Rs 175 cr; FY’21 revenue drops 21 computer


SBI Playing cards and Cost Companies on Monday reported a 110 per cent rise in internet revenue at Rs 175 crore for the quarter ended March 2021.

The bank card firm, promoted by the nation’s largest lender SBI, had posted a internet revenue of Rs 84 crore within the corresponding January-March interval of the previous fiscal 12 months 2019-20.

The corporate, which operates beneath the model identify SBI Card, reported decline in income to Rs 2,309 crore throughout the fourth quarter as in opposition to Rs 2,433 crore in similar interval a 12 months in the past, it stated in a regulatory submitting.

Complete revenue too dropped to Rs 2,468 crore from Rs 2,510 crore in the identical quarter a 12 months in the past.

The full bills had been decrease at Rs 2,234 crore as in comparison with Rs 2,398 crore earlier.

For the complete 12 months 2020-21, internet revenue slipped by 21 per cent to Rs 985 crore from Rs 1,245 crore in previous fiscal.

With regard to asset high quality, the corporate registered a deterioration with gross non performing property (NPAs) greater than doubling to 4.99 per cent on the finish of March 2021, as in comparison with 2.01 per cent at March 2020.

Equally, internet non-performing property rose to 1.15 per cent as in opposition to 0.67 per cent earlier.

As of March 31, 2021, the corporate’s capital-to-risk weighted property ratio (CRAR) was 24.8 per cent in comparison with 22.4 per cent final 12 months.

Through the quarter ended March 2020, the corporate had provide you with its Preliminary Public Providing (IPO) and was listed on BSE and NSE.

(Solely the headline and film of this report could have been reworked by the Enterprise Commonplace employees; the remainder of the content material is auto-generated from a syndicated feed.)

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