With the addition of over 20 Lakh new customers in H1, the Company has served over 1.6 Crore customers till date
FinTech BizNews Service
Mumbai, 15 October, 2024: TVS Credit Services Limited, one of India’s leading NBFCs, published its unaudited financial results for the quarter and half-year ended September 30, 2024, which reflect the Company's robust growth and financial stability.
The Company reported Assets Under Management (AUM) of Rs. 26,652 Crore as of Sep’24, an increase of Rs. 3,136 Crore and a growth of 13% as compared to Sep’23. 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.
Q2 FY25 Highlights:
· AUM stood at Rs. 26,652 Crore as of Q2 FY25, a 13% growth compared to Q2 FY24.
· Total Income for Q2 FY25 was Rs. 1639 Crore, a 17% growth compared to Q2 FY24.
· Profit Before Tax for Q2 FY25 stood at Rs. 216 Crore, a 20% growth compared to Q2 FY24.
· Net Profit After Tax was Rs. 161 Crore for Q2 FY25, a 20% growth compared to Q2 FY24.
H1 FY25 Highlights:
· AUM stood at Rs. 26,652 Crore as of Sep’24, a 13% growth compared to Sep’23.
· Total Income for H1 FY25 was Rs. 3245 Crore, a 18% growth compared to H1 FY24.
· Profit Before Tax for H1 FY25 stood at Rs. 403 Crore, a 20% growth compared to H1 FY24.
· Net Profit After Tax was Rs. 301 Crore for H1 FY25, a 19% growth compared to H1 FY24.
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.
