Comments
SBI Card, the country’s largest pure play credit card issuer, on Thursday reported a 67 per cent increase in net profit for the quarter ended September 30 at ₹305 crore, up from ₹206 crore in the corresponding quarter last year.
Total revenue for the quarter under review increased 7 per cent to ₹2,695 crore (₹2,510 crore), a statement issued by the company said.
Also see: ‘RBI should allow the rupee to appreciate’
The card-in-force grew 14 per cent in second quarter to 1.26 crore (1.10 crore). While retail spends grew 41 per cent to ₹35,070 crore (₹24,863 crore), corporate spends surged 80 per cent to ₹8,491 crore (₹4,728 crore).
For the six months ended September 30, SBI Card reported a net profit of ₹650 crore, up 8 per cent from net profit of ₹599 crore recorded in the same period last year.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.