TVS Credit Sees Record-Breaking Growth in Q3 FY25

TVS Credit Services Ltd, a prominent non-banking financial company, reported a 40% increase in profit after tax for Q3 FY25, driven by a surge in consumer loans and vehicle financing. The total income rose by 12% while assets under management grew by 7%, reaching Rs 27,190 crore.

TVS Credit Services Ltd, a significant player in the non-banking financial sector, announced a remarkable 40% growth in their profit after tax for the October-December 2024 period, amounting to Rs 240 crore. This increase was fueled by substantial advancements in consumer loans and vehicle financing.

The company's performance during the previous year's equivalent quarter saw a profit after tax of Rs 172 crore. For the nine months ending December 31, 2024, the profit after tax surged by 28% to Rs 541 crore from the Rs 424 crore registered last year.

In Q3 FY25, the demand for credit rose, spurred by festive activities, increased consumption, and enticing consumer offers, stated the company's release. Total income during this quarter saw a 12% hike, reaching Rs 1,710 crore, while the assets under management augmented by 7% to Rs 27,190 crore.

(With inputs from agencies.)