Krsnaa Diagnostics Q3 FY26 Revenue Up 4% YoY to ₹181.2 Crore, PAT Declines 21%
Krsnaa Diagnostics reported Q3 FY26 revenue of ₹181.2 crore, up 4% YoY. Nine-month revenue reached ₹580.2 crore, up 9% YoY. PAT for Q3 FY26 declined 21% YoY to ₹15.2 crore. The company recovered over ₹130 crore in government receivables. Apulki Healthcare launched its first hospital, a 150-bed cancer and cardiac facility in Pune.
The decline in PAT and the impact of strategic investments on short-term profitability could be concerning for investors. However, the strong cash recovery and the launch of the new hospital under Apulki Healthcare offer positive future outlooks, balancing the impact.
While revenue showed YoY growth, PAT declined significantly QoQ and YoY. The company is making strategic investments for future growth, which are impacting short-term profitability. The launch of the Apulki hospital is a positive development, but the mixed financial results lead to a neutral sentiment.
Krsnaa Diagnostics Ltd. announced its unaudited financial results for the quarter and nine months ended December 31, 2025.
For the nine months of FY2026, revenue stood at ₹580.2 crore (₹5,802 million), a 9% year-on-year increase. EBITDA grew by 13% YoY to ₹160 crore (₹1,600 million), and Profit After Tax (PAT) increased by 5% YoY to ₹59.7 crore (₹597 million). Earnings Per Share (EPS) was ₹18.16, a 5% YoY increase.
In the third quarter of FY2026 (Q3 FY26), revenue from operations was ₹181.2 crore (₹1,812 million), a 4% increase compared to ₹174.5 crore (₹1,745 million) in Q3 FY25. However, revenue saw a 12% decrease quarter-on-quarter from ₹206 crore (₹2,060 million) in Q2 FY26. EBITDA for Q3 FY26 was ₹47.4 crore (₹474 million), a 2% increase YoY, but a 21% decrease QoQ. PAT for Q3 FY26 declined by 21% YoY to ₹15.2 crore (₹152 million) from ₹19.4 crore (₹194 million) in Q3 FY25, and fell 36% QoQ from ₹23.9 crore (₹239 million) in Q2 FY26. Reported diluted EPS for the quarter was ₹4.66.
Normalized EBITDA for Q3 FY26 increased by 4% YoY to ₹48.4 crore (₹484 million), while Normalized PAT saw a marginal 1% decrease YoY to ₹16.8 crore (₹168 million). Normalized EBITDA for the nine months grew 14% YoY to ₹161 crore (₹1,610 million), and Normalized PAT increased 11% YoY to ₹62.8 crore (₹628 million).
Managing Director, Mr. Yash Mutha, highlighted the company's operational resilience despite seasonal softness in Q3. He noted significant cash recoveries of over ₹130 crore during the quarter, ₹100 crore higher than the previous year, due to improved working capital efficiency and accelerated recovery of government receivables. He also mentioned deliberate, front-loaded investments for the Rajasthan Pathology Project, with meaningful revenue expected from the next financial year. The B2C segment showed strong momentum with multi-fold growth.
Executive Director, Ms. Pallavi Bhatevara, announced the launch of the first hospital under Apulki Healthcare, a 150-bed cancer and cardiac hospital in Pune, developed in partnership with the Pune Municipal Corporation. This facility operates under a 30-year concession, extendable by another 30 years. Apulki Healthcare plans to develop approximately ten hospitals with over 2,000 beds and install more than 15 PET-CT units across India.
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