TVS Credit grows their Assets under Management to Rs.19,541 Cr end of Q3 FY23

Bangalore, January 25, 2023: TVS Credit Services Limited, one of India’s leading NBFCs, published its unaudited financial results for the quarter ended and nine months ended Dec 31, 2022. The NBFC reported a net profit after tax of Rs.278 Cr for the nine months ended Dec 31, 2022. The Company’s AUM registered a Y-o-Y growth of 53% as of Dec’22 compared to Dec’21.

Q3 FY23 Results Summary:

· AUM stood at Rs.19,541 Cr as of Dec’22, a 53% growth over Dec’21

· Total Income was Rs.2,925 Cr for the nine months ended Dec’22, a rise of 47% as compared to the corresponding period of previous year

· Net profit after tax for the nine months ended Dec’22 was Rs.278 Cr as compared to Rs.58 Cr for the corresponding period of previous year

Commenting on the performance, Mr. Ashish Sapra, CEO, said, “In Q3 FY23, our business has witnessed a growth in loan disbursements owing to strong momentum across products. This fiscal we have added over 2 million customers till date, bringing our total customer base to nearly 10 million. We will continue to provide enhanced customer experience and expand our footprint in newer markets.”

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