Sunday, Jun 23 2024 | Time 17:13 Hrs(IST)
Business Economy

TVS Credit's AUM reaches Rs. 25,900 cr in 2024 fiscal

Chennai, May 10 (UNI) TVS Credit Services Limited, one of India’s leading NBFCs on Friday announced that its Assets Under Management (AUM) reached Rs 25,900 crore in the 2024 fiscal.
Releasing the financial results for the fourth quarter and year ended March 31, 2024, a company release here said it 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.

On FY24 Performance, it said the 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 and the Net Profit After Tax was Rs. 572 Crore for FY24, a 47% growth.
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.
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