Finance company SBI Cards and Payment Services announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Total income increased by 14% at Rs 4,475 crore in Q4FY24 vs Rs 3,917 crore in Q4FY23.
- Finance costs increased by 43% at Rs 724 crore in Q4FY24 vs Rs 507 crore in Q4FY23
- Total Operating cost decreased by 3% at Rs 1,918 crore in Q4FY24 from Rs 1,980 crore in Q4FY23
- Earnings before credit costs increased by 28% at Rs 1,833 crore in Q4FY24 vs Rs 1,429 crore in Q4FY23
- Total Revenue increased by 14% YoY at Rs 4,475 crore in Q4FY24 vs Rs 3,917 crore in Q4FY23
- PAT increased by 11% YoY at Rs 662 crore in Q4FY24 vs Rs 596 crore in Q4FY23
- ROAA at 4.7% in Q4FY24 vs 5.4% in Q4FY23
- ROAE at 22.2% in Q4FY24 vs 24.6% in Q4FY23
- Capital Adequacy Ratio at 20.5%; Tier 1 at 16.5%
FY24 Financial Highlights:
- Total income increased by 22% at Rs 17,484 crore in FY24 vs Rs 14,286 crore in FY23
- Finance costs increased by 58% at Rs 2,595 crore in FY24 vs Rs 1,648 crore in FY23
- Total Operating cost increased by 12% at Rs 8,369 crore in FY24 vs Rs 7,448 crore in FY23.
- Earnings before credit cost increased by 26% at Rs 6,519 crore in FY24 vs Rs 5,190 crore in FY23
- Impairment losses & bad debts expenses increased by 52% at Rs 3,287 crore in FY24 vs Rs 2,159 crore in FY23
- Profit after tax increased by 7% at Rs 2,408 crore in FY24 vs Rs 2,258 crore in FY23