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SBI Card on Friday reported a net profit of Rs 444.8 crore for the quarter ended September 30, an increase of 10 per cent over the corresponding period a year ago. The credit card issuer's quarterly net profit fell short of analysts' expectations, though its interest income met the mark.

According to Zee Business research, SBI Card was estimated to register a net profit of Rs 600 crore for the July-September period.

SBI Card's second-quarter net interest income -- or the difference between interest income and finance costs -- grew 15.2 per cent on a year-on-year basis to Rs 1,729.8 crore, according to a regulatory filing.

According to the research, SBI Card's September-quarter NII was estimated at Rs 1,720 crore.

The financial services company's interest income increased 8.7 per cent to Rs 2,489.9 crore, while its total revenue rose 13 per cent to Rs 5,136 crore aided by higher fee and commission income as well as steady interest earnings.

Fees and commission income jumped 16 per cent to Rs 2,471 crore, while finance costs came down 4 per cent to Rs 760 crore.

SBI Card reported new account volumes at 9,36,000 units in Q2 as against 9,04,000 a year ago.

The company staged an improvement in its asset quality.

Its gross non-performing assets (NPAs) -- or bad loans -- as a percentage of total loans reduced to 2.85 per cent in the September quarter from 3.1 per cent in the previous three months.

Similarly, net NPAs decreased to 1.29 per cent from 1.40 per cent, sequentially.

Earlier on Friday, the SBI Card stock rose 0.2 per cent to end at Rs 930.4 apiece on BSE, outperforming a Mumbai market that snapped a six-day winning run.