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SBI Cards

Q2 FY27Finance

SBI Cards Q2 Results 2026 (FY27): Revenue ₹5,141 Cr, PAT ₹778 Cr

Q2 FY27 investor presentation: what the company reported on revenue and margins.

Price₹566
Market cap₹53.9K Cr
P/E23.7
Updated23 Oct 2026
Read4 min read

SBI Cards Q2 FY27 key numbers

Revenue
Revenue from operations for Q2 FY27: ₹5,141 Cr, up 4% YoY.

As stated in SBI Cards's Q2 FY27 investor presentation · published 23 Oct 2026. Reported figures, not investment advice.

Based on SBI Cards's Q2 FY27 investor presentation. The company has not published an earnings-call transcript for this quarter, so figures here are what the investor presentation reports, not management guidance.

The short version

Revenue from operations for Q2 FY27: ₹5,141 Cr, up 4% YoY (Page 12) - Total Income for Q2 FY27: ₹5,302 Cr, up 3% YoY (Page 12) - Profit After Tax (PAT) for Q2 FY27: ₹778 Cr, up 75% YoY (Pages 11, 24) - Cards-in-force at 2.32 Cr, up 8% YoY (Page 7) - Retail Spends ₹11.06 lacs, up 18% YoY; Corporate Spends ₹9.36 lacs, up 6% YoY (Page 7) - Receivables ₹58,376 Cr, up 2% YoY (Page 8) - New Accounts crossed 1.1 Million in Q2 (Page 5) - No explicit future outlook or guidance on revenue or volume provided in the presentation. EBITDA / Earnings Before Credit Costs (EBCC): Q2 FY27: 10.7% (down 60 bps YoY) from 11.3% in Q2 FY26 (Page 25) - Operating Margin / Cost to Income Ratio: Cost to Income: 58.7% in Q2 FY27, increase of 193 bps YoY (Page 12, 25) (Operating margin implied as ~41.3%) - Profit After Tax (PAT): Q2 FY27: ₹778 Cr, up 75% YoY from ₹445 Cr in Q2 FY26 (Page 12) - Explicit Margin Outlook: The presentation does not explicitly state a forward-looking margin outlook but highlights cost to income and credit costs trends (Page 30 Disclaimer notes forward looking statements are based on Management’s assumptions and may not be updated). Summary: EBITDA margin declined YoY, cost to income increased, but PAT saw strong 75% YoY growth.

From SBI Cards's Q2 FY27 earnings-call transcript · updated 23 Oct 2026.

Revenue & Sales Performance

  • Revenue from operations for Q2 FY27: ₹5,141 Cr, up 4% YoY (Page 12)
  • Total Income for Q2 FY27: ₹5,302 Cr, up 3% YoY (Page 12)
  • Profit After Tax (PAT) for Q2 FY27: ₹778 Cr, up 75% YoY (Pages 11, 24)
  • Cards-in-force at 2.32 Cr, up 8% YoY (Page 7)
  • Retail Spends ₹11.06 lacs, up 18% YoY; Corporate Spends ₹9.36 lacs, up 6% YoY (Page 7)
  • Receivables ₹58,376 Cr, up 2% YoY (Page 8)

2 more points from SBI Cards's call on revenue

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Profitability & Margins

- **EBITDA / Earnings Before Credit Costs (EBCC):** Q2 FY27: 10.7% (down 60 bps YoY) from 11.3% in Q2 FY26 (Page 25) - **Operating Margin / Cost to Income Ratio:** Cost to Income: 58.7% in Q2 FY27, increase of 193 bps YoY (Page 12, 25) (Operating margin implied as ~41.3%) - **Profit After Tax (PAT):** Q2 FY27: ₹778 Cr, up 75% YoY from ₹445 Cr in Q2 FY26 (Page 12) - **Explicit Margin Outlook:** The presentation does not explicitly state a forward-looking margin outlook but highlights cost to income and credit costs trends (Page 30 Disclaimer notes forward looking statements are based on Management’s assumptions and may not be updated). Summary: EBITDA margin declined YoY, cost to income increased, but PAT saw strong 75% YoY growth. No explicit margin guidance provided.

Continue your research

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Frequently Asked Questions

What were SBI Cards Q2 FY27 results?

Revenue from operations for Q2 FY27: ₹5,141 Cr, up 4% YoY (Page 12) - Total Income for Q2 FY27: ₹5,302 Cr, up 3% YoY (Page 12) - Profit After Tax (PAT) for Q2 FY27: ₹778 Cr, up 75% YoY (Pages 11, 24) - Cards-in-force at 2.32 Cr, up 8% YoY (Page 7) - Retail Spends ₹11.06 lacs, up 18% YoY; Corporate Spends ₹9.36 lacs, up 6% YoY (Page 7) - Receivables ₹58,376 Cr, up 2% YoY (Page 8) - New Accounts crossed 1.1 Million in Q2 (Page 5) - No explicit future outlook or guidance on revenue or volume provided in the presentation. EBITDA / Earnings Before Credit Costs (EBCC): Q2 FY27: 10.7% (down 60 bps YoY) from 11.3% in Q2 FY26 (Page 25) - Operating Margin / Cost to Income Ratio: Cost to Income: 58.7% in Q2 FY27, increase of 193 bps YoY (Page 12, 25) (Operating margin implied as ~41.3%) - Profit After Tax (PAT): Q2 FY27: ₹778 Cr, up 75% YoY from ₹445 Cr in Q2 FY26 (Page 12) - Explicit Margin Outlook: The presentation does not explicitly state a forward-looking margin outlook but highlights cost to income and credit costs trends (Page 30 Disclaimer notes forward looking statements are based on Management’s assumptions and may not be updated). Summary: EBITDA margin declined YoY, cost to income increased, but PAT saw strong 75% YoY growth.

What is SBI Cards share price analysis?

SBI Cards currently shows a neutral. The stock trades at a P/E of 23.7 with a market cap of ₹53,892 Cr. Investors should review the full earnings analysis for detailed insights.

Is SBI Cards planning capital expenditure?

The investor presentation does not mention any capex, capacity expansion, or new plant/project details including amounts, status, or timelines.

Keep SBI Cards on your radar — track it to get its next earnings analysis in your feed.

This analysis is AI-generated based on publicly available earnings data and the company's investor presentation. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.