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

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.