What was filed
SBI Cards and Payment Services Limited released results for the quarter ended June 30, 2026 (Q1 FY27), approved by its board on July 24, 2026. Per the company's press release, the quarter's story is a double-digit rise in profit after tax set against a much slower rise in total revenue.
What drove the quarter
The profit growth did not come from the top line, which the company said rose only modestly year-on-year. The filing attributes the improvement instead to a sharp fall in impairment losses and bad-debt expenses and to lower finance costs. Working the other way, operating costs rose meaningfully and earnings before credit costs declined year-on-year. Interest income was slightly lower while fees and other revenue grew, shifting the mix toward fee-based income over interest, per the disclosed profit-and-loss statement.
Asset quality and business scale
The company reported gross non-performing assets falling to 2.04% of gross advances from 3.07% a year earlier, with net NPAs at 0.83% versus 1.42%. On scale, cards-in-force and spends both grew year-on-year, with spends growth notably outpacing revenue growth. Capital adequacy stood at 25.6% with Tier I at 20.3%, both above the RBI minimums cited in the release. The company retained CRISIL and ICRA long-term AAA/Stable ratings.