SBI Cards net profit plunges 52% to `210 cr

SBI Cards and Payment Services Ltd reported nearly 52 per cent dip in its net profit to Rs 210 crore in the December quarter on higher provisioning. The pure-play credit card firm had posted a net profit of Rs 435 crore in the year-ago quarter. Its total income grew marginally to Rs 2,540 crore from Rs 2,563 crore. SBI Cards said its total management overlay provision stood at Rs 1,113 crore in Q3 against Rs 758 crore in Q2.