SBI Card and Payment Services Ltd posts Rs. 304.61 crores PAT in 1QFY22

SBI Card and Payment Services Ltd has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY2021-22) - QoQ Comparison

The company has reported total income of Rs.2450.94 crores during the period ended June 30, 2021 as compared to Rs.2468.14 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.304.61 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.175.42 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.3.21 for the period ended June 30, 2021 as compared to Rs.1.85 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY2020-21	% Change
Total Income	₹ 2450.94 crs	₹ 2468.14 crs	-0.7%
Net Profit	₹ 304.61 crs	₹ 175.42 crs	73.65%
EPS	₹ 3.21	₹ 1.85	73.51%

Financial Results (Q1 FY2021-22) - YoY Comparison

The company has reported total income of Rs.2450.94 crores during the period ended June 30, 2021 as compared to Rs.2195.60 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.304.61 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.393.30 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.3.21 for the period ended June 30, 2021 as compared to Rs.4.15 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 2450.94 crs	₹ 2195.60 crs	11.63%
Net Profit	₹ 304.61 crs	₹ 393.30 crs	-22.55%
EPS	₹ 3.21	₹ 4.15	-22.65%

Key Metrics

- New accounts volume at 609K accounts for Q1 FY22 up by 111% as of 288K accounts for Q1 FY21

- Card-in-force grew by 14% to 1.20 Cr as of Q1 FY22 vs 1.06 Cr as of Q1 FY21

- Spends grew by 74% at ₹33,260 Cr for Q1 FY22 vs ₹19,085 Cr for Q1 FY21

- Market share Q1 FY22 (available till May'21) – Card-in-force at 19.2% (Q1 FY21: 18.5%); Spends* at 18.9% for Q1 FY22 (Q1 FY21: 19.9%)

- Receivables grew by 5% to ₹24,438 Cr as of Q1 FY22 vs ₹23,330 Cr as of Q1 FY21

- GNPA at 3.91% as of Q1 FY22 vs 1.35% as of Q1 FY21; NNPA at 0.88% as of Q1 FY22 vs 0.43% as of Q1 FY21

- Total Balance Sheet size as of June 30, 2021 was ₹26,608 Cr as against ₹24,260 Cr as of June 30, 2020.

- Total Gross Advances (Credit card receivables) as of June 30, 2021 were ₹24,438 Cr, as against ₹23,330 Cr as of June 30, 2020.

- Net worth as of June 30, 2021 was ₹6,687 Cr as against ₹5,722 Cr as of June 30, 2020

Source : Equity Bulls

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