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Category :
Company
Headline :
SBI Cards and Pay Q1 net profit up 0.19% at Rs 594.45 cr
Date:
26/07/2024 19:40
The company reported standalone net profit of Rs 594.45 crore for the quarter ended June 30, 2024 as compared to Rs 593.31 crore in the same period last year, registering a year-on-year growth of 0.19 per cent.
Net revenue of the company rose moderately by 11.42 per cent at Rs 4,358.64 crore in April-June quarter of this fiscal as against Rs 3,911.88 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 8.98 per cent to Rs 2,867.22 crore from Rs 2,630.92 crore in year ago period.
Other Income dipped by 7.66 per cent at Rs 123.95 crore versus (Jun'23 Rs 134.23 crore).
Operating Profit surged by 16.43 per cent to Rs 1,491.42 crore as against Rs 1,280.96 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 4.49 per cent in June quarter.
Interest grew by 34.28 per cent y-o-y to Rs 766.83 crore, while Taxation increased by 0.72 per cent at Rs 204.72 crore (Jun'23 Rs 203.25 crore).
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