SBI Cards and Payment Services Reports Q1 FY27 Results: Profit After Tax Increases 20% Year-on-Year

SBI Cards and Payment Services Reports Q1 FY27 Results: Profit After Tax Increases 20% Year-on-Year​

The Board of Directors of SBI Cards and Payment Services Limited approved the company's financial results for the Quarter ended June 30, 2026, during a meeting held on Friday, July 24, 2026. The results show growth across key metrics, with Profit After Tax (PAT) rising by 20%.

Financial and Operational Highlights Q1 FY27​

SBI Cards reported total revenue of 5,205 Cr in the first quarter of fiscal year 2027, marking a 3% increase compared to 5,035 Cr in Q1 FY26. The company's Profit After Tax stood at 664 Cr in Q1 FY27, up from 556 Cr in the corresponding period last year.

Key performance indicators for Q1 FY27 included:

• Return on Assets (ROAA): 3.9%, up from 3.4% in Q1 FY26.
• Return on Equity (ROAE): 16.5%, compared to 15.8% in Q1 FY26.
• Capital Adequacy Ratio (CRAR): 25.6%.

Business Growth Metrics​

The company witnessed significant growth in spending and customer base metrics during the quarter. Cards-in-force grew by 7% year-on-year, reaching 2.26 Cr from 2.12 Cr in Q1 FY26. New account volume stood at 1,023K for Q1 FY27, up from 873K in Q1 FY26.

Spends grew robustly by 27% year-on-year, amounting to 118,475 Cr, compared to 93,244 Cr in Q1 FY26. Receivables also grew by 3%, reaching 58,269 Cr from 56,607 Cr. In terms of market standing, SBI Cards held a 18.6% market share for Card-in-force (down from 19.1% in Q1 FY26) and maintained a 19.5% share for spends (up from 16.6% in Q1 FY26), positioning it as No. 2 in the industry for both card-in-force and spends.

Profit and Loss Statement Details​

The increase in total income was attributed to several operational movements, including Fees and other revenue being up by 10%, reaching 2,620 Cr (up from 2,384 Cr in Q1 FY26). However, Interest Income decreased by 3% to 2.421 Cr (down from 2.493 Cr in Q1 FY26), while Finance costs saw an 8% reduction, recording 745 Cr (down from 813 Cr).

Impairment losses and bad debts expenses were reduced by 30%, settling at 948 Cr compared to 1,352 Cr in Q1 FY26.

The following table details the Profit and Loss performance for the quarter ending June 30, 2026:

Balance Sheet and Asset Quality​

As of June 30, 2026, the company's Total Balance Sheet size reached 69,707 Cr, up from 66,328 Cr as of March 31, 2026. Gross Advances (Credit card receivables) were reported at 58,269 Cr, against 56,926 Cr on the previous reporting date. Net worth stood at 16,463 Cr in June 2026, having increased from 15,797 Cr as of March 31, 2026.

In terms of asset health, Gross non-performing assets were recorded at 2.04% of gross advances as of June 30, 2026, down from 3.07% in June 30, 2025. Net non-performing assets stood at 0.83%, compared to 1.42% as of June 30, 2025.

Capital Adequacy and Ratings​

The company's capital adequacy metrics remain strong. CRAR was reported at 25.6%, an increase from 23.2% as of June 30, 2025. Furthermore, the Tier I capital stood at 20.3% as of June 30, 2026, compared to 17.9% on June 30, 2025.

The company received the following ratings:

SBICARD Stock Price Movement​

Shares of SBI Cards and Payment Services Limited slipped today, closing at ₹618.75 after shedding 0.62%. The equity finished near the day's lower range, having traded between a high of ₹625.9 and a low of ₹611.