InCred Financial Services, the lending arm of InCred Holdings, carried its growth momentum into FY27 after reporting a strong financial performance in FY26. The company posted a 31% year-on-year increase in its operating revenue, while profit surged 83% to Rs 172 crore in Q1 FY27. According to its standalone financial statements sourced from BSE, the Mumbai-based company’s revenue from operations rose to Rs 759 crore in Q1 FY27 from Rs 580 crore in Q1 FY26. Founded in 2017 by Bhupinder Singh, InCred Finance is a retail-focused NBFC that provides personal loans, education loans, secured business loans, MSME financing, and lending solutions for financial institutions. Interest income remained the company's largest revenue driver, contributing nearly 90% of its operating revenue. Revenue from this segment rose to Rs 682 crore in Q1 FY27. Fee and commission income added Rs 67 crore, while the rest came from gains on fair value changes in financial assets. Including Rs 3 crore from non-operating income, InCred Finance's total income stood at Rs 762 crore during the quarter. InCred Finance's loan book (excluding assigned loans) grew to Rs 14,809 crore at the end of June 2026, driven by continued momentum across its five lending verticals. The company also reported an improvement in asset quality, with gross NPAs declining to 2.0% from 2.3% a year ago and net NPAs easing to 0.7% from 0.9%. Its net worth stood at Rs 4,244 crore as of June 30, 2026. Finance costs remained the largest expense for InCred Finance, accounting for 51% of its total expenditure. These costs rose 26% year-on-year to Rs 270 crore in Q1 FY27. Employee benefit expenses increased 39% to Rs 131 crore during the quarter. Losses from impaired financial instruments, including loan write-offs, declined 44% year-on-year to Rs 43 crore. Depreciation charges, along with legal, collection, advertising, travel and other overheads, pushed the company's total expenditure up 15% to Rs 533 crore from Rs 465 crore in Q1 FY26. InCred Finance's profit surged 83% year-on-year to Rs 172 crore in Q1 FY27 from Rs 94 crore in the year-ago quarter. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
