SBI Cards & Payment Services Reports Strong Financial Performance in Q4 2023
SBI Cards & Payment Services, a leading finance and non-banking financial company (NBFC) in India, has recently declared its financial results for the quarter ended December 2023. The company has shown a positive performance in this quarter, with its score improving from 8 to 9 in the last 3 months, according to MarketsMOJO.One of the key highlights of SBI Cards' financials for the quarter is its net sales, which have reached an all-time high of Rs 4,620.87 crore. This is a significant growth compared to the previous five quarters, and the near-term sales trend is also very positive. Additionally, the company's operating profit (PBDIT) has also shown a steady increase, reaching its highest at Rs 1,363.13 crore. This trend has been consistent in the last five quarters, indicating a positive outlook for the company's near-term operating profit.
In terms of growth, SBI Cards has shown a 21.1% increase in net sales for the quarter, compared to the average net sales of the previous four quarters, which was Rs 3,817.12 crore. This further reinforces the positive sales trend for the company in the near term.
Overall, SBI Cards & Payment Services has displayed a strong financial performance in the quarter ended December 2023. With its net sales and operating profit on the rise, the company is poised for continued growth in the near future. Investors may want to consider holding onto their stocks in SBI Cards, as suggested by MarketsMOJO.
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