NE BUSINESS BUREAU
CHENNAI, OCT 15
TVS Credit Services Limited, one of India’s leading NBFCs, on Monday announced it has recorded a 20 per cent rise in the profit after tax for the July-September quarter at Rs 161 crore.
We’re excited to share our financial results for the quarter and half-year ended September 30, 2024. The Company registered a growth of 19% in PAT in H1 FY25 versus H1 FY24.
With strong growth momentum, the focus remains on expanding the product offerings, distribution, digital… pic.twitter.com/yJe8I9pkGp
— TVS Credit (@TVSCredit) October 15, 2024
The company had posted a profit after tax of Rs 134 crore during the corresponding quarter of last year.
- Total income during the quarter under review grew by 17 per cent to Rs 1,639 crore, from Rs 1,399 crore registered in the same period of last year
- It has served over 1.6 Crore customers till date
- For the six month period ending September 30, 2024 the profit after tax surged by 19 per cent to Rs 301 crore, as compared to Rs 252 crore registered in the same period of last financial year
For the six month period ending September 30, 2024 the profit after tax surged by 19 per cent to Rs 301 crore, as compared to Rs 252 crore registered in the same period of last financial year.
Total income during the quarter under review grew by 17 per cent to Rs 1,639 crore, from Rs 1,399 crore registered in the same period of last year.
For the half year ending September 30, 2024 the total income went up by 18 per ent to Rs 3,245 crore from Rs 2,748 crore registered a year ago.
As of September 30, 2024 the Assets Under Management stood at Rs 26,652 crore, a growth of 13 per cent as compared to September 30, 2023.
The Company’s Total Income increased by 18% year-on-year and stood at Rs. 3,245 Crore in H1 FY25. The Net Profit After Tax registered a healthy growth of 20% year-on-year and stood at Rs. 301 Crore in H1 FY25. With the addition of over 20 Lakh new customers in H1, the Company has served over 1.6 Crore customers till date.
The Company continued to maintain its strong growth momentum in disbursements during H1 FY25, primarily driven by increase in distribution reach supported by growth in consumption and increase in penetration. As part of its ongoing risk management and portfolio optimisation, the company has taken proactive steps to further strengthen credit norms, ensuring sustained portfolio health amidst evolving market conditions. TVS Credit remains resolute in its commitment to expand the product offerings, distribution, digital transformation, enhancing customer experience and operational efficiency.
With the ongoing festive season, TVS Credit has unveiled a range of special product schemes and exciting consumer promotions to help customers fulfil their aspirations.
