Hero MotoCorp faces mounting challenges as market share declines, sales dip, and rivals like TVS and Honda gain ground. Leadership exits and EV struggles add to the pressure
Non-banking finance company TVS Credit Services Ltd has successfully raised equity capital of Rs 480 crore from Premji Invest to fuel its growth plan including advancing its digitisation journey, the city-based company said on Saturday. Premji Invest, the investment arm of Wipro founder Azim Premji's endowment, would pick up 9.7 per cent equity stake in TVS Credit for Rs 737 crore as part of the transaction via a combination of primary and secondary investments. The primary capital raised would be utilised to further strengthen the efforts of TVS Credit in expanding its customer base in new markets, increasing the channel partner network, and advancing its digitisation journey. With this infusion of capital, the company aims to accelerate its mission of fulfilling the aspirations of a growing India by providing convenient financing options, TVS Credit Services said in a statement. "TVS Credit has demonstrated exceptional performance, achieving robust and profitable growth. Within a
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 maint
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