SBI Cards and Payments share closed 2% lower ahead of its earnings for the quarter ended March 2021. The large cap stock has fallen 4.75% in the last 3 days. The stock opened with a gain of 2.68% at Rs 963 on BSE. The stock touched an intraday high of Rs 971.95, rising 3.63% on BSE.
It touched an intraday low of Rs 911.5, down 2.81% against previous close. Later, SBI Cards share closed 2% lower at Rs 919.10. SBI Cards share trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.
In one year, the share has gained 64.83% and risen 8.03% since the beginning of this year. After market hours today, SBI Cards reported a profit after tax of Rs 175 crore in Q4, up 110% from Rs 84 crore in the corresponding period of previous fiscal.
Return on average assets was recorded at 2.6 per cent in Q4 FY21 against 1.3 per cent while the return on average equity was at 11.2 per cent against 6.5 per cent in Q4 FY20, the company said.
However, total income fell to Rs 2,468 crore from Rs 2,510 crore. Asset quality too fell with gross non-performing assets at 4.99 cent of gross advances as against 2.01 per cent in Q4 FY20. The capital adequacy ratio was 24.8 per cent (Q4 FY20: 22.4 per cent).
As per capital adequacy norms, the company's capital to risk ratio consisting of tier one and tier two capital should not be less than 15 per cent of its aggregate risk weighted assets on balance sheet and of risk adjusted value of off-balance sheet items.