SBI Cards said increase in revenue was primarily due to higher Income from fees and services in Q3 FY22. Profit before tax grew by 83% to Rs 518 crore in Q3 FY22 over Q3 FY21. Earnings before credit costs increased by 23% to Rs 1,144 crore in Q3 FY22 as compared to Q3 FY21.

Total operating cost rose 28% year on year to Rs 1,719 crore in Q3 FY22, due to higher business volumes & festive campaigns. Finance costs increased by 6% to Rs 277 crore in Q3 FY22 from RS 261 crore in Q3 FY21.

On the asset quality front, gross non-performing assets were at 2.40% of gross advances as on 31 December 2021 as against 4.51% as on 31 December 2020. Net non-performing assets were at 0.83% as against 1.60% as on 31 December 2020. Total Gross Advances (credit card receivables) as of 31 December 2021 were Rs 29,129 crore, as against Rs 25,114 crore as of 31 March 2021. As of 31 December 2021, the company's capital adequacy ratio was 24.2% as of 31 December 2021 compared to 23.7% as of 31 December 2020.

Card-in-force grew by 15% to 1.32 crore as of Q3 FY22 versus 1.15 crore as of Q3 FY21. Total spends grew by 47% to Rs 55,397 crore in Q3 FY22 from Rs 37,797 crore in Q3 FY21.

SBI Card is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients

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