Q1 Results Today: SBI Card, M&M Financial, Nazara Tech and Star Health


SBI Card, M&M Financial and Nazara Tech have announced their first quarter results on Friday. Here’s a brief look at what the companies reported in Q1.

SBI Card

SBI Card’s net profit fell 5% year-on-year to Rs 593 crore in the June quarter as against Rs 627 crore in the same period last year. Total revenue from operations, meanwhile, increased 24% year-on-year to Rs 4,046 crore. The same stood at Rs 3,263 crore in the year-ago period.

Revenue growth was led by 30% increase in interest income at 1,804 crore and 23% rise in fee and commission income to 1,898 crore. Impairment losses and bad debt expenses during the reporting surged 60% at 719 cr in Q1 FY24. The capital adequacy ratio was at 22.9% at the end of the quarter, with tier 1 at 20.3%.

The gross non-performing assets were at 2.41% as of June 2023, as against 2.24% a year ago. Net non-performing assets stood at 0.89%.

M&M Financial

M&M Financial reported profit of Rs 353 for the April-June period, showing a growth of 58% year-on-year. It was Rs 223 crore a year ago. Total Income was at Rs 3,125 crore for the quarter, an increase of 25% year-on-year aided by growth in asset book.

The loan Book increased sequentially by 5% to Rs 86,732 crore with improvement in disbursements. Disbursements at Rs 12,165 crore were higher by 28% YoY. Net Interest Margin for the quarter was at 6.8%, while net interest income came in at Rs 1,675 crore, rising 7% YoY, impacted by change in portfolio mix and increased interest costs.The company’s capital adequacy is healthy at 21.2%. Provision coverage on stage 3 loans maintained at 60.1%.

Nazara Tech
Nazara Tech’s net profit rose 31% year-on-year to Rs 21 crore for the first quarter ended June. It was Rs 15.9 crore in the last-year period. Revenues grew 14% to Rs 254.4 crore in the reporting period, as against Rs 223.1 cr in Q1FY23. EBITDA for the June quarter rose 10% to Rs 33.1 crore, whole margins came in at 13%.

Star Health
Star Health has posted net profit of Rs 288 crore in the first quarter, up 35% year-on-year, while gross premium written rose 20% to Rs 2,948 crore in the same period. The investment income for the quarter rose to Rs 249.9 crore as against Rs 204 crore in the last year period.


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