SBI Cards Q2 Net Profit Rises 75% to 778 Crore
SBI Cards and Payment Services reported a 75% year-on-year rise in net profit to 778 crore for the September quarter, citing lower credit costs and improved asset quality. Corporate card spends contracted and outstanding receivables declined.
Our Bureau Mumbai: SBI Cards and Payment Services reported a 75% year-on-year rise in net profit to 778 crore for the September quarter, driven by a sharp decline in credit costs and an improvement in asset quality, even as corporate card spends contracted and outstanding receivables declined.The c…