The company’s profit after tax (PAT) grew by 60% sequentially, compared to Q1FY26 at Rs. 308 crore was recorded. Meanwhile, in the April-June quarter of FY26, Rs. 2,028 crore on a quarter-on-quarter basis as the topline grew by 5.3%.
For the quarter ended September 30, 2025, the total revenue of the network was Rs. 2,692 crore, showing a growth of 21% YoY and +5% QoQ. The YOY growth was primarily driven by an increase in Occupied Bed Days (OBDs). International patient income Rs. 231 crores representing a growth of 25% YoY and 11% QoQ and accounted for 9% of the hospital’s revenue.
Network operating EBITDA, or earnings before interest, tax, depreciation and amortization (EBITDA), in Q2FY26 stood at Rs. 694 crore, showing a growth of 23% YoY. EBITDA margin for the network was 26.9% compared to 26.6% in Q2 FY25 and 24.9% in Q1 FY26. EBITDA margin for existing units was 27.5%.
Overall EBITDA per bed in Q2FY26 was Rs. 73.4 lakh, compared to Rs. 71.2 lakh in Q1FY26 and Rs. 68.5 lakhs. EBITDA per bed for existing units is Rs. 76.5 lakhs, up 7% year-on-year.
Also Read: Tata Motors PV Q2 Results: Cons PAT on one-time profit of Rs. 76,170 crore multiples, but revenue declines by 13% year-on-year
In a filing to the exchange, Max said, network PAT in Q2FY26 was Rs. 554 crore, compared to Rs. 349 crore in Q1FY26 and Rs. 345 crore, showing a growth of 59%. This includes the merger of CRL and JHL arising out of Rs. 149 crores includes a favorable tax effect. Excluding this one-time impact, PAT during the quarter stood at Rs. 406 crore, +16% YoY.
Free cash from operations stood at Rs 464 crore in Q2FY25 and Rs 389 crore in Q1FY26. 291 crores. 456 crore was deployed for ongoing expansion projects and upgradation of facilities in new units. Besides, Rs. 146 crore was distributed as dividend.
Net debt at the end of the quarter at the end of June 2025 was Rs. 1,755 crore as against Rs. 2,067 crores.
Max Health entered the Nifty as part of the September rejig, replacing auto major Hero MotoCorp.
(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times.)
As a trusted and reliable news source
Add now!
(You can now subscribe to our ETMarkets WhatsApp channel)
