CHENNAI, Jan 28: TVS Credit Services Ltd, a leading non-banking financial company, has registered a 40 per cent growth in its profit after tax for the October-December 2024 period at Rs 240 crore following healthy growth in consumer loans and vehicle financing segments, the company said on Tuesday.
The company registered a profit after tax of Rs 172 crore during the corresponding quarter of the last financial year.
For the nine months ending December 31, 2024, the profit after tax grew by 28 per cent to Rs 541 crore, from Rs 424 crore registered in the same period, a year ago.
“In Q3 FY25, credit demand increased, driven by festive fervour, increased consumption and attractive consumer offers. TVS Credit witnessed healthy growth during this period, particularly in consumer loans and vehicle finance with an improvement in market share,” a company statement said here.
The total income during the quarter under review rose by 12 per cent to Rs 1,710 crore, from Rs 1,527 crore registered in the year-ago period.
For the nine months ending December 31, 2024, the total income went up by 16 per cent to Rs 4,956 crore when compared to Rs 4,276 crore registered a year ago.
“In Q3 FY25, TVS Credit witnessed its highest ever quarterly growth in customers, disbursing loan products to a record 16 lakh new customers, taking its total base to nearly 1.8 crore customers, ” the company said.
The total assets under management (AUM) witnessed a 7 per cent growth during the quarter under review to Rs 27,190 crore from Rs 25,315 crore registered in the same quarter of last year, the company said. (PTI)
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