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SBI Cards and Payment Services saw its net profit rise 11% year-on-year(y-o-y) to Rs 662 crore in the January-March quarter due to a growth in receivables. This was around 15% higher than the Rs 578 crore Bloomberg consensus estimate. The company’s receivables rose 25% y-o-y to Rs 50,846 crore in the March quarter. Credit card spends rose 11% y-o-y to Rs 79,653 crore. While retail spends increased 25% y-o-y to Rs 69,189 crore, corporate spends fell 35% to Rs 10,464 crore, an investor presentation from the company showed. The company’s interest earnings receivables, which include tr...