BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
SBI Cards and Payment Services Ltd. reported a steady Q1 FY22, with a sharp beat in earnings, supported by lower provisions, as operating performance came in line.
Overall spends/receivables witnessed a sequential decline due to the lockdown during April-May 2021, while showing a gradual improvement from June 2021 onwards.
SBI Cards' margin too witnessed an expansion of ~160 basis points, led by an improving loan mix, while fee income stood largely stable q-o-q.
Asset quality ratios saw a significant improvement, led by higher write-offs, while the Reserve Bank of India revenue expenditure book declined to Rs 13.8 billion (6% of loans versus 8% in Q4 FY21).
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