TVS Credit Services Reports 20% Net Profit Hike in Q1 FY'25

Chennai, Aug 7 (PTI) Leading non-banking finance company TVS Credit Services Ltd has reported a 20 per cent growth in its net profit for the April-June 2024 quarter at Rs 140.43 crore, the company said on Wednesday.

The company had registered a net profit of Rs 117.26 crore during the corresponding quarter of last year.

Total income during the quarter under review grew to Rs 1,606.43 crore, as compared to Rs 1,349.20 crore registered a year ago.

The Assets Under Management (AUM) stood at Rs 26,351 crore as of June 30, 2024, TVS Credit Services Ltd said in a statement today.

"The company continued to maintain its strong growth momentum in disbursements during Q1 FY'25 primarily driven by increase in distribution reach supported by growth in consumption and increase in penetration," the company said.

TVS Credit currently serves over 1.50 crore customers till date, the statement added.