TVS Credit Surges With Robust Q2 Performance and Expanding Customer Base

TVS Credit Services Ltd reports a 20% rise in profit after tax for Q2 2024, reaching Rs 161 crore. The total income increased by 17% to Rs 1,639 crore. With a focus on strong risk management and expanding customer base, the company's assets under management grew by 13%.

TVS Credit Services Ltd, a leading non-banking finance company, has achieved a 20% rise in its profit after tax for the second quarter of 2024, amounting to Rs 161 crore, compared to Rs 134 crore in the same period last year.

Throughout the first half of 2024, the company reported a 19% surge in profit after tax, reaching Rs 301 crore, up from Rs 252 crore in the corresponding period of the previous fiscal year. Additionally, total income experienced a 17% boost to Rs 1,639 crore, an increase from Rs 1,399 crore in the year-ago quarter.

Assets under management saw a 13% increase, standing at Rs 26,652 crore as of September 30, 2024. The company's proactive risk management and portfolio optimization strategies have contributed to robust portfolio health, alongside a broadened distribution reach and heightened market penetration.

(With inputs from agencies.)