| Metric | Value (₹ Cr) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 2.1K | 3.2% | 10.7% |
| Total Income | 2.1K | 2.6% | 11.1% |
| Expenditure | 1.7K | 1.3% | 11.9% |
| PBT | 364.54 | 18.3% | 18.0% |
| Net Profit | 300.92 | 38.8% | 26.0% |
| OPM | 23.70% | 3.23pp | 16.98pp |
| NPM | 14.24% | 8.42pp | 1.68pp |
| EPS | 3.10 | 38.6% | 26.0% |
Max Healthcare Q3 revenue rises to Rs. 2,608 Cr, registering growth of +10% YoY; Network Operating EBITDA grows to Rs. 648 Cr; PAT grows by +9% YoY to Rs. 344 Cr
05 Feb 2026 · 5 Feb, 1:47 pm
Summary
Max Healthcare Institute Ltd. announced its financial and operating results for the third quarter and nine months ended December 31, 2025. The company reported a +10% YoY growth in network gross revenue, mainly driven by an increase in Occupied Bed Days (OBDs). International patient revenue stood at Rs. 230 Cr, reflecting a growth of +14% YoY. Network Operating EBITDA was Rs. 648 Cr, reflecting a growth of +4% YoY. EBITDA Margin for the Network stood at 26.1%. The company's Net Debt at the end of the quarter stood at Rs. 2,166 Cr.
Key Highlights
- 1
Gross Revenue stood at Rs. 2,608 Cr for Q3 FY26, a growth of +10% YoY
- 2
Network Operating EBITDA stood at Rs. 648 Cr in Q3 FY26, a growth of +4% YoY
- 3
Operating Margin stood at 26.1% compared to 27.3% in Q3 FY25 and 26.9% in Q2 FY26
- 4
Network PAT stood at Rs. 344 Cr, compared to Rs. 316 Cr in Q3 FY25 and Rs. 554 Cr in Q2 FY26
- 5
EBITDA per bed was Rs. 71.3 lakhs compared to Rs. 73.0 lakhs in Q3 FY25 and Rs. 73.4 lakhs in Q2 FY26
- 6
Bed occupancy for the quarter was at 74%, with Occupied Bed Days (OBDs) up by +7% YoY
- 7
ARPOB for Q3 FY26 stood at Rs. 77.9k compared to Rs. 75.9k in Q3 FY25 and Rs. 77.3k in Q2 FY26
- 8
Max Lab reported revenue of Rs. 47 Cr during the quarter, recording a growth of +13% YoY
- 9
Max@Home gross revenue was Rs. 68 Cr, reflecting a growth of +23% YoY and +7% QoQ
Management Comments
Max Healthcare Institute Ltd.
The company announced its financial and operating results for the third quarter and nine months ended December 31, 2025. The company reported a +10% YoY growth in network gross revenue, mainly driven by an increase in Occupied Bed Days (OBDs). International patient revenue stood at Rs. 230 Cr, reflecting a growth of +14% YoY. Network Operating EBITDA was Rs. 648 Cr, reflecting a growth of +4% YoY. EBITDA Margin for the Network stood at 26.1%. The company's Net Debt at the end of the quarter stood at Rs. 2,166 Cr.
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