TVS Credit Services Ltd. (TVS Credit) standalone net profit for the quarter ended March rose 33% YoY to ₹148 crore, primarily driven by an increase in credit demand, augmented by growth in consumption and increased distribution reach.
Total income grew by 23% to ₹1,519 crore, the NBFC firm said in a statement.
For the full year, assets under management rose by 26% to ₹25,900 crore, total income by 40% to ₹5,795 crore and net profit by 47% to ₹572 crore.
The company also added added more than 43 lakh new customers taking the total to more than 1.4 crore.
TVS Credit remains resolute in its commitment to expand the product offerings, digital transformation, enhancing customer experience and operational efficiency, the company said.
