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 mixed quarter characterised by a sharp growth in spends, while pre-provision operating profit declined by 7% YoY on lower revolve rate/margin pressure.
The company reported strong traction in both retail and corporate spends.The growth outlook remains steady.
Margin declined by 70 basis points QoQ to 14.1%, exerting pressure on net interest income growth, while other income grew smartly at 17% QoQ.
Gross non performing asset ratio improved by 55 basis points QoQ to 3.36%, while the Reserve Bank of India restructuring book declined to Rs 10.3 billion versus Rs 13.8 billion in Q1 FY22.
SBI Cards has further provided 65%/100% on 30-90/90 days delinquent RBI RE book.
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