TVS Credit Services Ltd, reported standalone net profit the September quarter rose 20% to ₹161 crore over the year ago period due to company’s robust growth and financial stability.

Assets Under Management increased by 13% to ₹26,652 crore, while total income grew by 17% to ₹1,639 crore. It added over 20 lakh new customers in H1 and served over 1.6 crore customers till date.

TVS Credit continued to maintain its strong growth momentum in disbursements during H1 primarily driven by increase in distribution reach supported by growth in consumption and increase in penetration, the leading NBFC said in a statement.

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.