SBI Cards and Payment Services Ltd.PAT +75% to ₹778 Cr on lower credit cost

SBI Card's Q2 FY27 call, held on 23 October 2026, showed profit rebounding on lower credit costs while spend and receivable growth waited for the festive season.

Profit after tax rose 75% to ₹778 crore, with gross credit cost down 342 basis points on the year to 5.6% and gross NPAs at 1.9%. Revenue from operations rose 4% to ₹5,141 crore, retail spends reached a record ₹95,299 crore, up 6%, and total spends rose 3% to ₹1,10,689 crore. The company added more than 1 million new accounts and kept 18.5% of cards in force. Net interest margin was 10.8%, but cost of funds rose 18 basis points to 6.8% and the cost-to-income ratio was 58.7%.

Management guided gross credit cost near 6%, cost-to-income at 57% to 59%, spend growth in the mid-teens to high teens and receivable growth from the third quarter, said it has started raising EMI yields, and expects another 50 basis points of rate hikes. It carries a ₹100 crore management overlay. No earlier promises were on file for comparison.