(PTI) SBI Cards & Payment Services Ltd on Tuesday reported a 32 per cent rise in its December quarter net profit 509 crores.
SBI-promoted pure-play credit card company posted a net profit 386 crore during the corresponding period of the previous financial year.
The total income of the company increased marginally Rs 3,656 crore during October-December 2020 3,140 crore in the year-ago period, it said in a regulatory filing.
Total operating cost increased by 15 percent 1,974 crore for Q3 FY23 from 1,719 crore in FY22, it said.
Its gross non-performing assets (NPAs) came down to 2.22 per cent during the quarter under review, from 2.40 per cent a year ago.
Net NPAs also came down to 0.80 per cent from 0.83 per cent at the end of December quarter of the last financial year.
As a result, impairment loss and bad debt expense decreased by 15 percent. 533 crores to 625 crore in FY22.
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