In the fiscal year 2024, fintech unicorn InCred reported a revenue of ₹1,267 crore and a profit after tax (PAT) of ₹316 crore.

Fintech firm InCred experienced significant growth over the last two fiscal years, with revenue increasing 2.6 times from Rs 488 crore in FY22 to Rs 1,267 crore in FY24. Additionally, the company's profit surged more than 10-fold during this period.

InCred's operational revenue grew by 48% to Rs 1,267 crore in FY24, up from Rs 856 crore in FY23, according to its financial statements available on the company's website. Founded by Bhupinder Singh, InCred provides various loans to businesses and consumers, including home, education, personal, and two-wheeler loans. Interest income from these loans made up 94% of the total operating revenue, increasing by 45% to Rs 1,193 crore in FY24.

Other sources of revenue for InCred included fees, commissions, and dividends. The Mumbai-based company also earned Rs 26 crore from other income, bringing its total revenue to Rs 1,293 crore in FY24.

The company's finance costs represented 52% of its total expenditure, rising by 27.8% to Rs 455 crore in FY24. To support its growth, InCred expanded its workforce significantly, reflected in a 35.9% increase in employee benefits expenses. Overall costs, including depreciation, legal, advertising, travel, and other expenses, rose by 37.4% to Rs 871 crore in FY24, up from Rs 634 crore in FY23.