INSUBCONTINENT EXCLUSIVE:
As of September 30, 2024 the Assets Under Management stood at Rs 26,652 crore.2 min read Last Updated : Oct 15 2024 | 4:48 PM IST
Leading
non-banking finance company TVS Credit Services Ltd has recorded a 20 per cent rise in the profit after tax for the July-September quarter
at Rs 161 crore.
The company had posted a profit after tax of Rs 134 crore during the corresponding quarter of last year.Click here to
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For the six month period ending September 30, 2024 the profit after tax surged by 19 per cent to Rs 301 crore,
as compared to Rs 252 crore registered in the same period of last financial year.
Total income during the quarter under review grew by 17
the total income went up by 18 per ent to Rs 3,245 crore from Rs 2,748 crore registered a year ago.
As of September 30, 2024 the Assets
Under Management stood at Rs 26,652 crore, a growth of 13 per cent as compared to September 30, 2023.
In a statement on Tuesday, the
company said it 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 amid evolving
market conditions," the company said.
With the addition of over 20 lakh new customers in H1, the company has served over 1.6 crore
customers till date.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the
content is auto-generated from a syndicated feed.)First Published: Oct 15 2024 | 4:48 PMIST
