Manipal Hospitals Q2 FY27 Revenue Surges 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 was ₹6,490 crore (up 37.7%) and EBITDA was ₹1,631 crore (up 28.2%). Inpatient volumes grew 35% in Q2 FY27. The company added a new hospital in Bengaluru, expanding its network to 13,440 beds.
The substantial revenue and EBITDA growth, coupled with network expansion and strategic integration of acquisitions, indicate a significant positive impact on the company's financial health and market position.
The company reported significant year-on-year growth in revenue and EBITDA, along with strong operational metrics like increased inpatient volumes and occupancy. The expansion of their hospital network and positive commentary from the CEO further support a positive sentiment.
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 increase. EBITDA stood at ₹882 crore, up 29.8% year-on-year, with an EBITDA margin of 26.0% (26.8% excluding Sahyadri).
For the half-year ended September 30, 2026 (H1 FY27), revenue reached ₹6,490 crore, a 37.7% increase, and EBITDA reached ₹1,631 crore, up 28.2%. Excluding a ₹15 crore one-off gain in H1 FY26, EBITDA growth was 29.8%.
In Q2 FY27, inpatient volumes grew 35.0% to approximately 169,000, and outpatient volumes rose 27.2% to approximately 1.74 million. Occupancy improved by 160 basis points year-on-year to 70.1%. The company opened a new 300-licensed-bed hospital in Electronic City, Bengaluru, bringing the network's licensed bed capacity to 13,440.
Sahyadri Hospitals contributed ₹375 crore in revenue and ₹73 crore in EBITDA during Q2 FY27. Integration efforts include the rollout of centralized procurement rates and enhancement of clinical capabilities. The phased brand transition for Sahyadri is scheduled for Q4 FY27.
High-acuity specialties continued to drive momentum, with oncology revenue growing 51% year-on-year, neurosciences 47%, and orthopedics 44% in H1 FY27. Investments in advanced medical infrastructure 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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