SBI Cards Reports Record High Financial Results for Q1 2024, Positive Trends Indicate Growth Ahead

SBI Cards & Payment Services, a leading finance and NBFC company, has recently announced its financial results for the quarter ended March 2024. The company has shown a positive performance in this quarter, with its score improving from 9 to 10 in the last 3 months.

One of the key highlights of the financials is the company's operating profit (PBDIT) for the quarter, which stands at a record high of Rs 1,536.76 crore. This is a significant growth compared to the previous five quarters, indicating a positive trend in the near term.

Another positive aspect is the company's net sales for the half-yearly period, which has grown by 23.39% year on year to reach Rs 8,969.42 crore. This shows a positive trend in the company's sales performance in the near term.

SBI Cards has also shown improvement in its operating profit margin, with the latest quarterly figure standing at 35.35%, the highest in the last five quarters. This indicates an increase in the company's efficiency.

The company's profit before tax (PBT) less other income has also seen a significant growth, reaching a high of Rs 761.31 crore in the last five quarters. This shows a positive trend in the near term for the company's profitability.

SBI Cards' profit after tax (PAT) for the quarter has also reached a record high of Rs 662.37 crore, indicating a positive trend in the company's profitability in the near term. The earnings per share (EPS) for the quarter also stands at a high of Rs 6.97, showing an increase in profitability and creating higher earnings for shareholders.

Based on these financial results, MarketsMOJO has given a 'Hold' call for SBI Cards' stock. With its strong financial performance and positive trends, SBI Cards is poised for growth in the near future.