TVS Credit’s Assets Under Management reaches Rs. 25,900 Crore in FY24, 26% increase from FY23

Publication: TVS Credit Date: 9 | May | 2024

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Chennai, May 09, 2024: TVS Credit Services Limited, one of India’s leading NBFCs, published its financial results for the fourth quarter and year ended March 31, 2024.

The Company reported a Total Income of Rs. 1,519 Crore for Q4 FY24, a growth of 23% from Q4 FY23 and Net Profit After Tax of Rs.148 Crore for Q4 FY24, a growth of 33% from Q4 FY23.

FY24 Performance Highlights:

AUM stood at Rs. 25,900 Crore in FY24, a 26% growth compared to FY23.
Total Income for FY24 was Rs. 5,795 Crore, a 40% growth compared to FY23.
Profit Before Tax for FY24 stood at Rs. 762 Crore, a 49% growth compared to FY23.
Net Profit After Tax was Rs. 572 Crore for FY24, a 47% growth compared to FY23.

During FY24, the Company added over 43 lakh new customers, surpassing a total customer base of 1.4 Crore.
The Company continued to maintain its strong growth momentum in disbursements during FY24, primarily driven by an increase in credit demand, augmented by growth in consumption and increased distribution reach. TVS Credit remains resolute in its commitment to expand the product offerings, digital transformation, enhancing customer experience and operational efficiency.

About TVS Credit Services Limited:

TVS Credit Services Limited is one of India’s leading and diversified Non-Banking Financial Company registered with the RBI. With over 46,500 touchpoints across India, the Company aims to empower Indians to dream bigger and fulfil their aspirations. Being the number one financier for TVS Motor Company Limited and one of the leading Consumer Durable and Mobile Phone financiers, TVS Credit has a fast-growing footprint in Used Car Loans, Tractor Loans, Used Commercial Vehicle Loans, and Unsecured Loans. Powered by robust new-age technologies and data analytics, the Company has served over 1.4 Crore happy customers till date.

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