TVS Credit Services Ltd., reported standalone net profit for the June quarter rose 20% over the year ago period to ₹140 crore.

Total income grew 19% to ₹1,606 crore, while Assets Under Management rose 20% to ₹26,351 crore, said the NBFC in a statement.

The company continued to maintain its strong growth momentum in disbursements, primarily driven by increase in distribution reach supported by growth in consumption and increase in penetration.

TVS Credit remains resolute in its commitment to expand the product offerings, distribution, digital transformation, enhancing customer experience and operational efficiency, it said.

Being the leading financier for TVS Motor Co., and one of the leading consumer durables and mobile phone financiers, TVS Credit has a fast-growing footprint in used car loans, tractor loans, used commercial vehicle loans, and unsecured loans. It has served over 1.5 crore customers till date.