SBICARD

The shares of SBI Cards and Payment Services dropped over 6 percent on July 28. This comes after brokerages slashed their rating and target prices for the stock following its weak Q1 earnings announcement. SBI Cards released its results for the first quarter of financial year 2026 in the post market hours of July 25 (Friday). It reported a net profit of Rs 556 crore for Q1 FY26. This marks a 6 percent on-year drop from the Rs 594 crore net profit reported in the same period last year. The firm’s total revenue from operations rose nearly 12 percent on-year to Rs 4,877 crore during the quarter under review. Its asset quality however declined on-year, with GNPA and NNPA margin standing at 3.07 percent and 1.42 percent respectively.