Mumbai, July 29 -- Despite the drop in profitability, the company's total income rose 12% to Rs 5,035 crore, compared to Rs 4,483 crore in the same period last year. This was driven by a steady rise in core revenue streams: interest income climbed 11% to Rs 2,493 crore, while fees and commission income rose 13% to Rs 2,384 crore.

However, the bottom line came under pressure as finance costs increased 6% to Rs 813 crore, primarily due to higher receivables. Operating costs jumped 17% to Rs 2,123 crore, and impairment losses and bad debt provisions surged 23% to Rs 1,352 crore, up from Rs 1,101 crore a year earlier.

Operationally, the company continued to expand its base. In Q1 FY26, cards-in-force rose 10% YoY to 2.12 crore, and total ca...