TVS Credit to focus on enhancing leveraging data and technology

Chennai: Non-banking finance company TVS Credit Services Ltd would emphasize on enhancing customer experience, leveraging data and technology, a top official has said.

The company has reported 76 per cent rise in its net profit for the quarter ending March 31, 2023 at Rs 111 crore. For the year ending March 31, 2023 the net profit grew by 221 per cent to Rs 389 crore as compared to last year.

“We are closing FY23 on a strong note, with significant growth witnessed in disbursements across the products.” company CEO Ashish Sapra said. “With an expanding customer base of over one crore, our emphasis will remain on enhancing the customer experience, leveraging data and technology,” he said.

The company had registered total income for the quarter ending March 31, 2023 at Rs 1,236 crore while for the year it was at Rs 4,160 crore. Assets Under Management as of March 31,2023 was Rs 20,602 crore, registering a 48 per cent rise over last year.

In a statement, TVS Credit said it continued to maintain strong growth momentum in disbursements during FY23, primarily driven by credit demand and customised product offerings that have resonated well with the customers. The company has been investing in building future-ready technology and digital capabilities to deliver a seamless customer experience, it said.

TVS Credit Services Ltd has over 31,000 touch points across the country. It has served nearly 10 million customers and has over 17,000 employees, the statement said.