New Delhi: State Bank of India (SBI) card results have come in for the second quarter. In this case, the company has suffered a huge loss of profits. This is the reason why there is an atmosphere of selling in stock market. SBI card shares declined by over 7% during the initial trading and stood at Rs 790.
The latest figures show that SBI card profits declined by 46% to Rs 206 crore in the second quarter of the current fiscal. The company's net profit stood at Rs 381 crore in the July-September quarter of the previous fiscal. However, earnings has increased by 6% to Rs 2,513 crore. This was Rs 2,376 crore in the corresponding period of the previous fiscal. The company's active card has grown by 16% to 1.10 crore. It was 95 lakh during the same period last year.
The initial public issue (IPO) of The Equitas Small Finance Bank (SFB) received 1.95 times the subscription on the last day of bidding. According to data available on the National Stock Exchange (NSE), the company had offered 11,58,50,001 shares for sale under its Rs 517 crore IPO. While he has received bids for 22,57,94,250 shares.
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