Results · Financial Services

InCred posts Rs 316 crore profit in FY24

By Startup Enthusiast · 10 June 2024

What they do

InCred provides home, education, personal and two-wheeler loans to businesses and consumers

It reported a profit after tax of Rs 316 crore for FY24, up from Rs 121 crore in FY23

Revenue from operations grew 48% to Rs 1,267 crore, and EBITDA margin improved to 34%

InCred published its financial results for the fiscal year ending March 2024 (FY24).
The company's revenue from operations rose to Rs 1,267 crore in FY24 from Rs 856 crore in FY23.
Profit after tax (PAT) jumped to Rs 316 crore in FY24 from Rs 121 crore in the previous year.
PAT grew over 10 times from FY22 to FY24.
Interest income of Rs 1,193 crore made up 94% of operating revenue.
Total expenditure increased to Rs 871 crore in FY24 from Rs 634 crore in FY23.
EBITDA margin improved to 34% in FY24 from 25% in FY23.
Return on capital employed (ROCE) stood at 5% in FY24, up from 3% in FY23.

InCred turned unicorn in December 2023 after a $60 million funding round led by Ranjan Pai's MEMG Fund.
KKR is the largest external stakeholder with a 31.5% stake.
The company is 8 years old and headquartered in Mumbai.

InCred offers loans to businesses and consumers, including home, education, personal and two-wheeler loans.
Its total financial assets stood at Rs 8,120 crore as of FY24.
Cash and bank balances were Rs 173 crore at the end of FY24.