Non-banking finance company TVS Credit Services Ltd has reported a net profit of ₹97.97 crore for October-December 2022, the company said on Wednesday.
The city-based company, a part of the diversified conglomerate TVS Group, reported the net profit at ₹55.88 crore during corresponding quarter last year.
The net profit for the nine-month period ending December 31, 2022 was at ₹278 crore as against ₹58 crore registered in the same period last year.
Total income during the quarter went up to ₹1,094.13 crore from ₹723.60 crore recorded in corresponding period last year.
The assets under management stood at ₹19,541 crore as of December 31, 2022.
"In Q3 FY '23, our business has witnessed a growth in loan disbursements owing to strong momentum across products. This fiscal we have added over two million customers till date, bringing our total customer base to nearly 10 million," said CEO of the company Ashish Sapra. "We will continue to provide enhanced customer experience and expand our footprint in newer markets," he said.