TVS Credit Services Limited, one of India’s leading NBFCs, published its unaudited financial results for the quarter and half-year ended September 30, 2024, which reflect the Company’s robust growth and financial stability.

 The Company reported Assets Under Management (AUM) of Rs. 26,652 Crore as of Sep’24, an increase of Rs. 3,136 Crore and a growth of 13% as compared to Sep’23. The Company’s Total Income increased by 18% year-on-year and stood at Rs. 3,245 Crore in H1 FY25. The Net Profit After Tax registered a healthy growth of 20% year-on-year and stood at Rs. 301 Crore in H1 FY25. With the addition of over 20 Lakh new customers in H1, the Company has served over 1.6 Crore customers till date.

Q2 FY25 Highlights:

·         AUM stood at Rs. 26,652 Crore as of Q2 FY25, a 13% growth compared to Q2 FY24.
·         Total Income for Q2 FY25 was Rs. 1639 Crore, a 17% growth compared to Q2 FY24.
·         Profit Before Tax for Q2 FY25 stood at Rs. 216 Crore, a 20% growth compared to Q2 FY24.
·         Net Profit After Tax was Rs. 161 Crore for Q2 FY25, a 20% growth compared to Q2 FY24.

H1 FY25 Highlights:

·         AUM stood at Rs. 26,652 Crore as of Sep’24, a 13% growth compared to Sep’23.
·         Total Income for H1 FY25 was Rs. 3245 Crore, a 18% growth compared to H1 FY24.
·         Profit Before Tax for H1 FY25 stood at Rs. 403 Crore, a 20% growth compared to H1 FY24.
·         Net Profit After Tax was Rs. 301 Crore for H1 FY25, a 19% growth compared to H1 FY24.

The Company continued to maintain its strong growth momentum in disbursements during H1 FY25, primarily driven by increase in distribution reach supported by growth in consumption and increase in penetration. 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. TVS Credit remains resolute in its commitment to expand 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.

Shree Cement’s laboratory at its Ras plant in Rajasthan, Asia’s largest single location cement manufacturing facility—has achieved accreditation from the National Accreditation Board for Testing and Calibration Laboratories (NABL), under the Quality Council of India. This prestigious certification affirms the lab’s adherence to the rigorous ISO/IEC 17025:2017 standards, marking a significant milestone in technical excellence and quality assurance for testing and calibration services.

The NABL accreditation underscores the technical proficiency, credibility, and reliability of Shree Cement’s quality control processes. It represents a vital step in the company’s ongoing commitment to upholding stringent quality assurance standards, ensuring that every batch of cement produced meets the highest levels of safety, performance, and durability.

Speaking on the accreditation, Neeraj Akhoury, Managing Director at Shree Cement, expressed his satisfaction with the achievement and stated,“We are immensely proud of this NABL accreditation for our Ras plant laboratory, which reinforces our commitment to excellence and innovation in quality assurance. This achievement underscores our dedication to producing high-quality, reliable products that meet the most stringent global standards. At Shree Cement, we continuously strive to enhance our operational capabilities, and this recognition from NABL further validates our efforts to deliver sustainable and world-class building materials to our customers.”

The Quality Control Laboratory at Ras plays a critical role in monitoring and maintaining the plant’s production quality, overseeing a comprehensive range of testing protocols to ensure consistent performance across all product lines. With NABL’s seal of approval, the lab has been recognized for its capability to perform precise and accurate testing, reinforcing Shree Cement’s promise of superior product quality.

The NABL accreditation of Shree Cement’s Quality Control Laboratory supports the company’s commitment to international best practices and operational excellence. This milestone enhances customer satisfaction by assuring the reliability of products that meet stringent quality benchmarks. As a member of the International Laboratory Accreditation Cooperation (ILAC) and the Asia Pacific Accreditation Cooperation (APAC), NABL ensures that accredited test results are globally recognized. Consequently, Shree Cement’s results are deemed equivalent to those from other international labs, bolstering the company’s credibility on the global stage.

Mother Dairy, India’s leading milk and milk products major, has today announced its official association as the ‘Dairy Partner’ for the upcoming 2024 season of the prestigious Pro Kabaddi League. As part of this collaboration, Mother Dairy will be actively involved throughout the season, engaging with fans and consumers through various initiatives and promotional activities designed to enhance the excitement surrounding the sport.

Speaking on the association Mr. Manish Bandlish, Managing Director, Mother Dairy, said,“We are excited to be part of Kabaddi, a sport that is deeply embedded in India’s culture and heritage. This collaboration is a perfect fit for our brand, offering us a unique opportunity to engage with our consumers and the passionate Kabaddi community across the country. By bringing together the power of dairy nutrition and the dynamic energy of Kabaddi, Mother Dairy aspires to promote the growth of the sport while fostering a culture of health and wellness nationwide.”

Mother Dairy, as the official ‘Dairy Partner’ for the upcoming Pro Kabaddi League season will maintain a significant presence of brand and product portfolio at match venues and on official broadcast channels, while also engaging consumers across various platforms, including digital media.

Mr. Bandlish further added, “Mother Dairy has found a strong synergy with sports and its enthusiastic community, as seen in our previous association with cricket. With this association, we aim to further expand our reach into focus markets and households of untapped or potential consumers, enhancing our brand’s top-of-mind recall.”

“Today, the Pro Kabaddi League (PKL) has firmly established itself as India’s second most-watched sporting event, commanding an impressive 70% of the IPL’s audience. This rapid growth is a testament to the league’s fierce competitiveness, unyielding sportsmanship, and its broader impact on promoting physical well-being. We are thrilled to welcome Mother Dairy as a key sponsor, perfectly aligned with their mission to champion good health and vitality. This collaboration marks a significant step forward for both brands, and we look forward to a strong and fruitful association,” said Ajit Varghese, Head of Network Ad Sales, Disney Star.

The 2024 Season will feature a total of 12 teams competing for this year’s title. The league is scheduled to kickstart from October 18, 2024, with series of matches in Hyderabad, followed by Noida and Pune. Since its inception, the league has set new standards with packed venues and record viewership, becoming one of the most popular leagues in the country.