News > Fintech unicorn InCred reports 132% growth in profit in Q3 FY24

Fintech unicorn InCred reports 132% growth in profit in Q3 FY24

Fintech unicorn InCred reported growth in profit before tax to Rs 298 crore in the third quarter of the current fiscal year (FY24), from Rs 129 crore in the corresponding period last year. InCred Finance's core loan book witnessed 55% growth (on-year), crossing Rs 8,000 crore in Q3 FY24. The cost-to-income ratio saw a healthy decline from 56% to 44%. InCred has been valued at $1.04 billion and became the second company to gain unicorn status last year.