InCred Finance Q1: Profit Jumps 82% YoY To ₹172 Cr

IPO-bound fintech company InCred Holdings’ lending tech arm InCred Financial Services (InCred Finance) said that it reported a consolidated net profit to ₹172 Cr in Q1 FY27, up 82% from ₹94 Cr in the year ago quarter.

The company attributed the surge in bottom line to growing loan disbursements, improving operating leverage and healthy asset quality. In a statement, InCred Finance said that its cost to income ratio stood at 44.6% during the quarter under review as against 45.8% in Q1 FY26.

However, the company did not disclose its total income during the quarter. 

In a statement, InCred Finance also claimed that its loan book (excluding assigned loans) grew to ₹14,809 Cr in Q1 FY27 on the back of continued momentum of its five lending verticals and sustained demand from its target customer cohorts.

Meanwhile, the company said that its gross non-performing assets (NPA) stood at 2% in Q1 FY27 compared to 2.3% a year ago. Net NPA hovered around 0.7% versus 0.9% in Q1 FY26. Its net worth (adjusted for intangibles) stood at ₹4,244 Cr at the end of June 2026.

“Asset quality continues to be very healthy with Gross NPA at 2.0% and Net NPA at 0.7%…, anchored in the company’s risk-first approach, backed by its AI-enabled, in-house developed proprietary technology platform. This disciplined credit underwriting approach continues to reflect in stable asset quality metrics even as the book scales,” said InCred Finance in a statement.

Previously known as KKR India Financial Services Limited, InCred Financial Services (IFSL) merged with InCred Holdings (IHL) in 2023. As a result, it then became a wholly owned subsidiary of IHL. As of March 2026, IFSL operated in 19 states with 166 branches.

The results come at a time when parent InCred Holdings is gearing up to list on the bourses soon. The company filed its draft red herring prospectus (DRHP) with SEBI via the confidential pre-filing route in November 2025. It then filed its updated DRHP with SEBI in May this year after receiving SEBI’s nod to float its issue. 

InCred Holdings’ public issue will comprise a fresh issue of shares worth up to ₹1,250 Cr and an offer for sale (OFS) component of up to 9.9 Cr equity shares.

Besides the NBFC arm, InCred Holdings also operates an asset management arm InCred Capital as well as an investment platform InCred Money.

At the group level, InCred Holdings reported a net profit of ₹290.1 Cr in the first nine months (9M) of FY26, up 5% from ₹275.5 Cr in the year period. The company’s revenue from operations surged 38.6% to ₹1,848.9 Cr in the period under review from ₹1,333.9 Cr in 9M FY25.

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