Shares of SBI Cards and Payment Services were trading in the red and 1% lower on 20 March despite the company declaring an interim dividend of Rs 2.50 per share for the current fiscal year.

In its regulatory filing, the company said that the Board of Directors had approved an interim dividend of Rs 2.50 per equity share of face value of Rs 10 each for the current fiscal year. The record date for determining the eligibility for the interim dividend has been set at 28 March, and the dividend will be credited on or before 17 April 2024.

In its quarterly report for October-December, the company reported an 8% year-on-year increase in net profit at Rs 549 crore for the quarter from Rs 509 crore reported in the same quarter of the previous fiscal year.

The total income during the quarter stood at Rs 4,742 crore, marking a 30 YoY increase from Rs 3,656 crore reported in the same quarter last year.

The company reported a 41% increase in the amount spent by cardholders during the quarter ending 31 December at Rs 96,860 crore.

At 12:40 pm, the shares of SBI Cards were trading 0.38% lower at Rs 695.85 on NSE.