Finance costs jumped 64% YoY to 605 crore during the period under review. Total operating cost increased by 13% to Rs 2,066 crore in Q2 FY24 as compared with Q2 FY23.

Impairment on financial instruments increased 36% to Rs 742 crore in Q2 FY24 from Rs 546 crore in Q2 FY23.

Total balance sheet size as of 30 September 2023 was at Rs 50,388 crore as against Rs 45,546 crore as of 31 March 2023.

Total gross advances (credit card receivables) as of 30 September 2023 stood at Rs 45,078 crore as compared with Rs 40,722 crore as of 31 March 2023.

Net worth as of 30 September 2023 was at t 11,130 crore as against Rs 9,902 crore as of 31 March 2023.

The gross non-performing assets were at 2.43% of gross advances as of 30 September 2023, as against 2.35% as of 31 March 2023. Net non-performing assets were at 0.89% as of 30 September 2023, as against 0.87% as of 31 March 2023.

As of 30 September 2023, the company's CRAR was 23.3% compared to 23.1% as of 31 March 2023. Tier I capital was 20.8% as of 30 September 2023, compared to 20.4% as of 31 March 2023.

On half-yearly basis, the company's net profit rose 4% to Rs 1,196 crore on 23% increase in total income to Rs 8,268 crore in H1 FY24 over H1 FY23.

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 18 MM+ cards in force as of Q1 FY24.

The scrip declined 2.34% to end at Rs 791.05 on Friday, 27 October 2023.