TVS Credit records 40% growth

Chennai: Non-banking finance company TVS Credit Services Ltd has posted a profit after tax for the July-September quarter at Rs 134 crore up by 40 per cent. The company had registered a net profit at Rs 96 crore during the corresponding quarter of last financial year. For the six month period ended September 30, 2023 the net profit stood at Rs 252 crore, the company said on Sunday. The assets under management as of September 2023 grew to Rs 23,516 crore from Rs 20,602 crore registered in the same period of last year. Total income during the quarter under review was Rs 1,399 crore. In a statement, the city-based company said the credit demand continued to remain strong aided by higher consumption and infrastructure outlay by the government.