SBI Cards Q1 profit falls 6% despite revenue growth

SBI Cards and Payment Services reported revenue of ₹5,035 crore in Q1 FY26, up 12% year-on-year, driven by higher interest income and fees. However, profit after tax fell 6% to ₹556 crore.

The company's market position strengthened with spend market share rising to 16.6% and cards-in-force reaching 2.12 crore, representing 10% growth. Total customer spend jumped 21% to ₹93,244 crore.

Cost of funds improved to 7.1% from 7.3% in the previous quarter, while net interest margin held steady at 11.2%.