TVS Credit, the non-banking financial arm of two-wheeler major TVS Motor Company, recorded a 20% rise in its profit after tax for the second quarter of this fiscal.
The Premji Invest-backed company’s net profit rose to Rs 161 crore, led by a growth in assets under management, which stood at Rs 26,652 crore, up 13% y-o-y.
The company continues to maintain its strong growth momentum in disbursements during the first half of the current financial year, primarily driven by increase in distribution reach supported by growth in consumption and increase in penetration, the company said in a press release.
“As part of its ongoing risk management and portfolio optimisation, the company has taken proactive steps to further strengthen credit norms, ensuring sustained portfolio health amidst evolving market conditions,” the release said.
The company is focussed on expanding the product offerings, distribution, digital transformation, enhancing customer experience and operational efficiency. With the ongoing festive season, TVS Credit has unveiled a range of special product schemes and exciting consumer promotions to help customers fulfil their aspirations.
Claiming to have operations across 27 states in the country with 44,000 touchpoints and more than 130 area offices, TVS Credit offers an array of services ranging from mobile phone loans to providing credit for used cars and new two-wheelers.