SBI Card Q3 net up 32% YoY to Rs 509 cr on strong interest income

Dip in impairment losses and bad debts suppports performance, stock dips on company missing street estimates

SBI Card has reported a 32 per cent year-on-year (YoY) jump in net profit in the October-December (Q3) quarter, aided by healthy interest income and drop in impairment losses and bad debts. Its profit after tax (PAT) stood at Rs 509 crore during this period, compared to Rs 386 crore in the year-ago period.
 
However, the company's stock tumbled 2.73 per cent to Rs 746.20 at close on the BSE, as the firm missed street estimates on profitability, due to higher finance cost.
 
Interest income of the company increased by 26 per cent YoY to Rs 1,609 crore