Interest income increased by 30% to Rs 1,804 crore in Q1 FY24 from Rs 1,387 crore in Q1 FY23. Fees and commission income increased by 23% to Rs 1,898 crore in Q1 FY24 from Rs 1,538 crore in Q1 FY23.

Finance costs increased by 85% YoY to 571 crore during the period under review. Total Operating cost increased by 18% to Rs 1,960 crore in Q1 FY24 as compared with Q1 FY23.

Impairment losses & bad debts expenses increased by 60% to Rs 719 crore in Q1 FY24 from Rs 450 crore in Q1 FY23.

Total Balance Sheet size as of 30 June 2023, was RS 47,916 crore as against Rs 45,546 crore as of 31 March 2023.

Total gross advances (credit card receivables) as of 30 June 2023, were Rs 43,271 crore, as against Rs 40,722 crore as of 31 March 2023.

Net worth as of 30 June 2023, was Rs 10,496 crore as against Rs 9,902 crore as of 31 March 2023.

The gross non-performing assets were at 2.41 % of gross advances as of 30 June 2023, as against 2.24% as of 30 June 2022. Net non-performing assets were at 0.89% as of 30 June 2023, as against 0.79% as of 30 June 2022.

As of 30 June 2023, the company's CRAR was 22.9% compared to 24.7% as of 30 June 2022. Tier I capital was 20.3% as of 30 June 2023, compared to 21 .5% as of 30 June 2022.

SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients which includes lifestyle, rewards, travel & fuel, and banking partnerships cards along with corporate cards covering all major cardholders' segments in terms of income profile and lifestyle. The brand has a wide base of over 17 MM+ cards in force as of Q1 FY24.

The scrip had declined 0.42% to end at Rs 856.50 on the BSE yesterday.