SBI Cards’ net profit dips to Rs 556cr in Q1

MUMBAI: SBI Cards reported a 6.4% decline in net profit to Rs. 556 crore for the June quarter, in contrast with Rs. 594 crore a 12 months earlier, as larger impairment losses and dangerous money owed offset income development. The provisions rose 22.8% YoY to Rs. 1,352 crore.