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SBI Card Q3 FY26 Results: PAT Surges 45% YoY to ₹557 Cr; Spends Grow 33%
SBI Card reported a strong Q3 FY26 with Profit After Tax (PAT) rising 45% YoY to ₹557 crore, driven by a 12% increase in total revenue and a 5% reduction in finance costs. Total spends witnessed robust growth of 33% YoY, reaching ₹1,14,702 crore, while cards-in-force grew 8% to 2.18 crore. Asset quality showed improvement with Gross NPA declining to 2.86% from 3.24% YoY, although Net NPA rose slightly to 1.28%. The company maintained a healthy capital adequacy ratio of 24.4%, reflecting a strong balance sheet.
Key Highlights
Net Profit increased by 45% YoY to ₹557 Cr, supported by a 7% decrease in impairment costs.
Total Spends grew significantly by 33% YoY to ₹1,14,702 Cr, indicating strong consumer transaction volume.
Gross NPA improved to 2.86% from 3.24% YoY, while Return on Average Assets (ROAA) expanded to 3.2%.
Total Revenue from operations rose 12% YoY to ₹5,353 Cr, with fee-based income growing 17%.
Capital Adequacy remains robust at 24.4%, with Tier 1 capital at 19.1%.
💼 Action for Investors
The significant jump in profitability and spend growth makes this a positive result; however, investors should monitor the slowdown in new account acquisitions (864K vs 1,175K YoY) and the slight rise in Net NPA.
SBI Cards Q3 PAT Surges 45% YoY to ₹557 Cr; Asset Quality Improves
SBI Cards and Payment Services reported a strong Q3 FY26 with Profit After Tax (PAT) rising 45.2% YoY to ₹556.64 crore, up from ₹383.23 crore in the same quarter last year. Total revenue from operations grew 11% YoY to ₹5,127.26 crore, supported by a 16.9% jump in fee and commission income. Asset quality showed improvement with Gross NPA at 2.86% compared to 3.08% in March 2025. The bottom line was also aided by a one-time reversal of PIDF liability amounting to ₹70.32 crore.
Key Highlights
Net Profit (PAT) increased by 45.2% YoY to ₹556.64 crore in Q3 FY26.
Total Revenue from operations grew 11% YoY to ₹5,127.26 crore.
Gross NPA improved to 2.86% and Net NPA to 1.28% from 3.08% and 1.46% respectively in March 2025.
Fees and Commission income rose significantly by 16.9% YoY to ₹2,366.70 crore.
One-time reversal of PIDF liability of ₹70.32 crore and a ₹12 crore provision for New Labour Codes.
💼 Action for Investors
The strong earnings growth and improving asset quality are positive triggers for the stock. Investors should hold the position while monitoring if the reduction in credit costs and NPA levels is sustainable in the coming quarters.
SBI Cards Allots 8,096 Equity Shares Under ESOP Scheme 2023
SBI Cards and Payment Services Limited has approved the allotment of 8,096 equity shares to eligible employees under its Employee Stock Option Plan 2023. The allotment was finalized by the Nomination and Remuneration Committee on January 27, 2026, at an exercise price of Rs. 10 per share. This move results in a marginal increase in the company's total paid-up equity capital. The total number of equity shares has risen from 95,15,77,400 to 95,15,85,496.
Key Highlights
Allotment of 8,096 equity shares of face value Rs. 10 each
Shares issued at an exercise price of Rs. 10 per share under ESOP Scheme 2023
Paid-up capital increased from Rs. 9,51,57,74,000 to Rs. 9,51,58,54,960
Total outstanding shares now stand at 95,15,85,496
💼 Action for Investors
This is a routine administrative update regarding employee compensation and involves negligible equity dilution. No specific action is required from investors.