Total income jumped 29.9% year on year to Rs 3,916.57 crore in the quarter ended 31 March 2023.

Interest income increased by 32% to Rs 1,672 crore in Q4 FY23 as against Rs 1,266 crore reported in the same period last year. Income from fees and commission surged 25% to Rs 1,786 crore in the Q4 FY23 from Rs 1,427 crore posted in Q4 FY22.

Profit before tax stood at Rs 799.67 crore in Q4 FY23, registering a growth of 2.6% YoY.

Finance costs soared 90% to Rs 507 crore in the fourth quarter of FY23 from Rs 267 crore reported in Q4 FY22. Total Operating cost was at Rs 1,980 crore for Q4 FY23, up 26% as compared to Rs 1,577 crore in Q4 FY22.

Earnings before credit costs grew by 22% to Rs 1,429 crore for Q4 FY23 versus Rs 1,172 crore posted in Q4 FY22. Impairment losses & bad debts expenses for the quarter increased by 60% to Rs 630 crore as against Rs 393 crore recored in the same quarter a year ago.

New accounts volume at 13,71,000 accounts in Q4 FY23 up by 37% compard with 10,02,000 accounts reported in Q4 FY22. Card-in-force grew by 22% YoY at 1.68 crore as of Q4 FY23 as against 1.38 crore as of Q4 FY22. Spends jumped 32% YoY Rs at 71,686 crore in Q4 FY23 from Rs 54,134 crore recorded in the corresponding quarter last year.

The NBFC's receivables grew by 30% YoY at Rs 40,722 crore in Q4 FY23 as against Rs 31,281 crore posted in Q4 FY22.

The firm's return on average assets (ROAA) and return on average equity (ROAE) stood at 5.4% and 24.6%, respectively in the quarter ended 31 March 2023.

On full year basis, the NBFC reported a 39.7% jump in net profit to Rs 2,258.47crore on 26.4% rise in total income to Rs 14,285.67crore in FY23 over FY22.

On asset quality front, the gross non-performing assets were at 2.35% of gross advances as of 31 March 2023 as against 2.22% as of 31 March 2022. Net non-performing assets stood at 0.87% as of 31 March 2023 as against 0.78% as of 31 March 2022.

The company's total balance sheet size as of 31 March 2023 was Rs 45,546 crore as against Rs 34,648 crore as of 31 March 2022. Total gross advances (credit card receivables) as of 31 March 2023 were Rs 40,722 crore, as against Rs 31,281 crore as of 31 March 2022. SBI Cards' net worth as of 31 March 2023 stood at Rs 9,902 crore from Rs 7,824 crore as of 31 March 2022.

As of 31 March 2023, the company's CRAR was 23.1 % compared to 23.8% as of 31 March 2022. Tier I capital stood at 20.4% as of 31 March 2023 from 21% as of 31 March 2022.

SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients.

Shares of SBI Cards and Payment Services were down 0.06% to Rs 771.40 on the BSE.