Non-bank financial company TVS Credit Services Ltd would emphasize improving the customer experience, leveraging data and technology, a senior official said.
The company has reported a 76 per cent increase in net profit for the quarter ended March 31, 2023, to ₹111 crore.
For the year ending March 31, 2023, the net profit grew by 221 per cent to ₹389 crore as compared to last year.
“We are closing fiscal year 23 on a strong note, with significant growth seen in disbursements across all products.” said the company’s chief executive, Ashish Sapra.
“With an expanding customer base of over Rs 1 crore, our emphasis will continue to be on improving the customer experience, leveraging data and technology,” he said.
The company had recorded total revenue for the quarter ending 31 March 2023 at ₹1,236 crore while for the year it was ₹4,160 crore.
Assets under management as of March 31, 2023 were Rs 20,602 crore, an increase of 48% over last year.
In a statement, TVS Credit said it maintained strong disbursement growth momentum in FY23, driven primarily by demand for credit and personalized product offerings that have resonated well with clients.
The company has been investing in developing future-proof technology and digital capabilities to deliver a seamless customer experience, he said.
TVS Credit Services Ltd has over 31,000 contact points across the country. It has served nearly 10 million customers and has more than 17,000 employees, according to the statement.