Gaurav Seth appointed as CEO of 5paisa Capital Limited, effective January 14, 2025
SBI Cards Q1 Results FY2023, PAT at Rs. 627 Crores

On 28th July 2022, SBI Cards announced its quarterly results for the first quarter of FY2023.
Q1FY23 Key Highlights:
- Total income at Rs. 3,263 Crores for Q1 FY23 vs Rs. 2,451 Crores for Q1 FY22
- Total Revenue increased by 33% YoY to Rs. 3,263 Crores
- Profit before tax increased by Rs. 431 Crores or 105% to Rs. 841 Crores for Q1 FY23 vs Rs. 410 Crores for Q1 FY22.
- Profit after tax increased by 106% to Rs. 627 Crores for Q1 FY23
Business Highlights:
- Total Balance Sheet size as of June 30, 2022 was Rs. 36,859 Crores as against Rs. 34,648 Crores as of March 31, 2022.
- Total Gross Advances (Croresedit card receivables) as of June 30, 2022 were Rs. 33,215 Crores, as against Rs. 31,281 Crores as of March 31, 2022.
- Net worth as of June 30, 2022 was Rs. 8,445 Crores as against Rs. 7,824 Crores as of March 31, 2022
- New accounts volume at 902K accounts for Q1 FY23 up by 48% vs. 609K accounts for Q1 FY22
- Card-in-force grew by 19% to 1.43 Crores as of Q1 FY23 vs 1.20 Crores as of Q1 FY22
- Spends grew by 79% at Rs. 59,671 Crores for Q1 FY23 vs Rs. 33,260 Crores for Q1 FY22
- Market share Q1 FY23 (available till May’22) – Card-in-force at 18.4% (Q1 FY22: 19.2%). Spends at 18.6% for Q1 FY23 (Q1 FY22: 19.1%)
- Receivables grew by 36% to Rs. 33,215 Crores as of Q1 FY23 vs Rs. 24,438 Crores as of Q1 FY22
- The Gross non-performing assets were at 2.24% of gross advances as on June 30, 2022 as against 3.91% as on June 30, 2021. Net non-performing assets were at 0.79% as against 0.88% as on June 30, 2021.
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