TVS Credit grows their Assets under Management to Rs.19,541 Cr end of Q3 FY23

Publication: TVS Credit Date: 25 | January | 2023

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National, January 25, 2023: TVS Credit Services Limited, one of India’s leading NBFCs, published its unaudited financial results for the quarter ended and nine months ended Dec 31, 2022.

The NBFC reported a net profit after tax of Rs.278 Cr for the nine months ended Dec 31, 2022. The Company’s AUM registered a Y-o-Y growth of 53% as of Dec’22 compared to Dec’21.

Q3 FY23 Results Summary:

• AUM stood at Rs.19,541 Cr as of Dec’22, a 53% growth over Dec’21
• Total Income was Rs.2,925 Cr for the nine months ended Dec’22, a rise of 47% as compared to the corresponding period of previous year
• Net profit after tax for the nine months ended Dec’22 was Rs.278 Cr as compared to Rs.58 Cr for the corresponding period of previous year

Commenting on the performance, Mr.Ashish Sapra, CEO, said, “In Q3 FY23, our business has witnessed a growth in loan disbursements owing to strong momentum across products. This fiscal we have added over 2 million customers till date, bringing our total customer base to nearly 10 million.
We will continue to provide enhanced customer experience and expand our footprint in newer markets.”

About TVS Credit Services Limited:

TVS Credit Services Limited is a leading Non-Banking Financial Company registered with the RBI. With over 31,000 touchpoints across India, the Company aims to empower Indians to dream bigger and fulfil their aspirations. Being the number one financier for TVS Motor Limited and one of the leading tractor financiers, TVS Credit has a fast-growing footprint in Used Car Loans, Consumer Durable Loans, Used Commercial Vehicle Loans,
and Unsecured Loans segment. Powered by robust new-age technologies and data analytics, the Company has served nearly 10 million happy customers with the help of its 17,000+ employees.

 

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