Manipal Hospitals Q2 FY27 Revenue Jumps 37.3% to ₹3,399 Cr, EBITDA Up 29.8%
Manipal Hospitals reported Q2 FY27 revenue of ₹3,399 crore, up 37.3% YoY, and EBITDA of ₹882 crore, up 29.8% YoY. For H1 FY27, revenue grew 37.7% to ₹6,490 crore, and EBITDA rose 28.2% to ₹1,631 crore. Inpatient volumes increased by 35.0% in Q2 FY27. The company also announced the opening of a new hospital in Bengaluru.
The substantial revenue and EBITDA growth, coupled with expansion and strong performance across key specialties, indicates a significant positive impact on the company's financial standing and market position.
The company reported significant year-on-year growth in revenue and EBITDA, along with increased patient volumes and occupancy rates, indicating strong operational and financial performance.
Manipal Health Enterprises Limited (Manipal Hospitals) announced its financial results for the quarter ended September 30, 2026 (Q2 FY27), reporting a strong operating performance with revenue from operations at ₹3,399 crore, a 37.3% year-on-year growth. EBITDA stood at ₹882 crore, an increase of 29.8% year-on-year. The company's EBITDA margin was 26.0% (26.8% excluding Sahyadri).
For the half year ended September 30, 2026 (H1 FY27), revenue reached ₹6,490 crore, up 37.7% year-on-year, and EBITDA reached ₹1,631 crore, up 28.2% year-on-year. Excluding a ₹15 crore one-off gain in H1 FY26, EBITDA growth was 29.8%.
Inpatient volumes grew 35.0% to approximately 169,000 and outpatient volumes rose 27.2% to approximately 1.74 million during Q2 FY27. Occupancy improved by 160 basis points year-on-year to 70.1%. The company's network capacity increased with the opening of a 300-licensed-bed hospital in Electronic City, Bengaluru, bringing the total licensed bed capacity to 13,440.
Sahyadri Hospitals, acquired on October 3, 2025, contributed ₹375 crore in revenue and ₹73 crore in EBITDA during Q2 FY27. The integration of Sahyadri is progressing, with a phased brand transition planned for Q4 FY27.
High-acuity specialties continued to drive momentum, with oncology revenue growing 51% year-on-year, neurosciences by 47%, and orthopedics by 44% in H1 FY27. Investments in advanced medical infrastructure, including AI-assisted equipment and orthopedic robots, were made across the network.
Dilip Jose, Managing Director & CEO, Manipal Hospitals, commented, “We are pleased that our performance this quarter has been driven by volumes with more patients accessing our care and this we believe is the sustainable option for growth in care delivery. Improved capacity utilisation, particularly in high-acuity specialties continued to be a key driver while maintaining focus on strengthening our clinical capabilities, improving operational performance and building a more integrated healthcare platform.”
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