SBI Cards Q2 Results: Double-Digit Growth In Profit And Revenue — Full Breakdown Here

SBI Cards and Payment Services Ltd reported a steady performance for Q2 FY26, showcasing consistent growth across key financial parameters.

The company's total income rose by 13% year-on-year (YoY) to Rs 5,136 crore from Rs 4,556 crore in Q2 FY25, driven by a 9% YoY increase in interest income to Rs 2,490 crore and a strong 16% growth in non-interest income to Rs 2,471 crore.

While total other income increased 30% YoY to Rs 175 crore, total revenue from operations increased 12% YoY to Rs 4,961 crore. While operating expenses rose 24% YoY to Rs 2,484 crore, showing greater business activity and expansion, finance costs dropped 4% YoY to Rs 760 crore, reflecting lower borrowing costs. While impairment losses and bad debts climbed 7% YoY to Rs 1,293 crore, earnings before credit costs increased 8% YoY to Rs 1,892 crore. In spite of a 20% sequential fall, the company's profit after tax (PAT) increased by 10% YoY to Rs 445 crore from Rs 404 crore during the same period the previous year.

SBI Cards and Payment Services Ltd reported a healthier balance sheet as of September 30, 2025, demonstrating excellent growth across key financial parameters compared to March 31, 2025.

The company's total assets increased by around 7%, from Rs 65,546 crore to Rs 69,862 crore. Strong credit growth was shown by a rise in loans (net of provisions) from Rs 53,935 crore to Rs 57,856 crore. Additionally, cash and bank balances increased from Rs 2,738 crore to Rs 3,333 crore, indicating enhanced liquidity management. Nevertheless, investments dropped somewhat from Rs 6,235 crore to Rs 5,906 crore. Non-financial assets stayed relatively steady at Rs 2,111 crore, while other financial assets and trade receivables jumped from Rs 514 crore to Rs 656 crore.

Regarding liabilities and equity, net worth improved as total equity increased from Rs 13,782 crore to Rs 14,789 crore. In order to sustain loan growth, borrowings, subordinated liabilities, and debt securities grew from Rs 44,947 crore to Rs 49,225 crore. Non-financial liabilities somewhat dropped to Rs 1,820 crore from Rs 1,844 crore, while other financial liabilities fell to Rs 4,028 crore from Rs 4,974 crore.

As of September 30, 2025, gross non-performing assets were 2.85% of gross advances, compared to 3.27% as of September 30, 2024. As of September 30, 2025, net non-performing assets stood at 1.29%, compared to 1.19% in the same period in 2024. As of Q2 FY26, the corporation has a large base of more than 21.5 MM+ cards in use.