SBI Cards and Payment Services Q1 profit down 5% to Rs 593 crore

July 28, 2023
Posted by: AliensFaith
Category: OBJECTIVE PRESS

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SBI Cards and Payment Services on Friday reported a 5 per cent drop in net profit to Rs 593 crore in the June quarter due to a rise in delinquencies. The SBI-promoted card issuance company (SBI Card) had reported a net profit of Rs 627 crore in the April-June period of the previous fiscal. Its total income during the first quarter of the current fiscal rose to Rs 4,046 crore against Rs 3,263 crore a year ago, SBI Cards said in a regulatory filing.

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

SBI Cards and Payment Services Q1 profit down 5% to Rs 593 crore

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