Vijaya Diagnostic Q1FY27: PAT +37.6% YoY on margin expansion, revenue up 22.8%

Vijaya Diagnostic Centre's Q1 FY27 (quarter ended June 30, 2026) consolidated revenue came in at ₹230.98 Cr, up 22.8% YoY and 5.3% QoQ, essentially in line with Nuvama's pre-quarter estimate of 22% YoY growth. Consolidated PAT of ₹53.10 Cr grew 37.6% YoY (+10.8% QoQ), running ahead of Nuvama's 35.5% YoY PAT-growth estimate and its 26.4% EBITDA-growth call — actual EBITDA of ₹97.75 Cr grew 32.9% YoY. Basic EPS was ₹5.16 versus ₹3.76 a year ago. No exceptional or one-off items appear in either the standalone or consolidated statement this quarter, so the growth is on a clean, comparable base. The beat on profitability sat on margins: consolidated net profit margin expanded to 22.99% from 19.78% a year ago (+321 bps), and operating margin rose to 42.32% from 39.10% YoY, even as it eased from 43.54% in the seasonally stronger Q4 FY26 print. The margin print sits comfortably above management's own conservative FY27 guidance of an EBITDA margin above 40%, and the 22.8% YoY revenue growth is well inside the 'double-digit, volume-led' range management guided for on the Q4 FY26 call — so the quarter tracks ahead of, not just in line with, the outlook management gave in May 2026. Management has not issued a separate press release on this print (none available in the record), so there is no company framing to reconcile against the numbers beyond the standing FY27 guidance. On the corporate calendar, the quarter closed with HDFC Mutual Fund crossing a 5% stake (July 29, 2026) and a CFO transition — Narasimha Raju was appointed on July 9, 2026, meaning this print is effectively his first as finance chief, alongside a CTO resignation flagged in June. None of these are reflected in the reported numbers but bear watching for continuity in capital allocation and reporting cadence. Standalone PAT of ₹53.15 Cr (+36.1% YoY) tracks within a percentage point of the consolidated growth rate, so the two bases tell the same story this quarter.