NewsVoir
Bengaluru (Karnataka) [India], August 14: TVS Credit Services Limited, one of India's leading NBFCs, published its unaudited financial results for the quarter ended June 30, 2024. The Company reported Assets Under Management (AUM) of Rs 26,351 Crore as of Jun'24, an increase of Rs 4,427 Crore and a growth of 20 per cent as compared to Jun'23. The Company's Total Income increased by 19 per cent year-on-year and stood at Rs 1,606 Crore in Q1 FY25. The Net Profit After Tax registered a healthy growth of 20 per cent year-on-year and stood at Rs 140 Crore in Q1 FY25. The Company has served over 1.5 Crore customers till date.
Q1 FY25 Highlights:
AUM stood at Rs 26,351 Crore as of Jun'24, a 20% growth compared to Jun'23.
Total Income for Q1 FY25 was Rs 1,606 Crore, a 19% growth compared to Q1 FY24.
Profit Before Tax for Q1 FY25 stood at Rs 187 Crore, a 19% growth compared to Q1 FY24.
Net Profit After Tax was Rs 140 Crore for Q1 FY25, a 20% growth compared to Q1 FY24.
The Company continued to maintain its strong growth momentum in disbursements during Q1 FY25, primarily driven by increase in distribution reach supported by growth in consumption and increase in penetration. TVS Credit remains resolute in its commitment to expand the product offerings, distribution, digital transformation, enhancing customer experience and operational efficiency.
TVS Credit Services Limited is one of India's leading and diversified Non-Banking Financial Company registered with the RBI. With over 46,500 touchpoints across India, the Company aims to empower Indians to dream bigger and fulfil their aspirations. Being the number one financier for TVS Motor Company Limited and one of the leading Consumer Durable and Mobile Phone financiers, TVS Credit has a fast-growing footprint in Used Car Loans, Tractor Loans, Used Commercial Vehicle Loans, and Unsecured Loans. Powered by robust new-age technologies and data analytics, the Company has served over 1.5 Crore happy customers.
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