Max Healthcare posts ₹3,219 cr in Q2 FY27, profit climbs 10%
Operational bed capacity at end of September stood at 5,518, up by 758 beds and 16 per cent YoY compared to Sep 2025. Bed occupancy for the quarter was at 77 per cent, with Occupied Bed Days (OBDs) up by 13 per cent YoY.
Max Healthcare reported a 20% increase in gross revenue to Rs 3,219 crore in Q2 FY27, marking a 10% rise in profit after tax compared to the same period last year. The company's operational bed capacity reached 5,518 beds by the end of September, a 16% YoY increase from September 2025. Bed occupancy stood at 77% for the quarter, with Occupied Bed Days (OBDs) up by 13% YoY.
The Max Lab vertical recorded a 24% YoY growth in gross revenue to Rs 66 crore, while Max@home saw a 37% YoY increase to Rs 86 crore, driven by physio & rehab, nursing care, attendants, and sample collection & medicine delivery. Free cash for the quarter amounted to Rs 500 crore, with Rs 292 crore invested in expansion plans and Rs 195 crore paid as dividends.
MSSH Dwarka, a new facility, commenced services in the Oncology Block, bringing total bed capacity to 318 beds by Q3 FY27. The company also increased its stake in Kalinga Hospital Limited (KHL) from 58.28% to 66.34% following a rights issue. Capital expenditure for FY27 was approved at Rs 415 crore, including 209 brownfield beds across existing hospitals.
For H1 FY27, total bed capacity stood at 6,184 beds, an increase of 20% YoY, with network gross revenue growing 18% to Rs 6,200 crore. Network PAT grew 7% to Rs 805 crore, and cash from operations reached Rs 897 crore, while net debt was Rs 2,369 crore. Chairman and Managing Director Abhay Soi stated that Max Healthcare continues to deliver growth by expanding bed capacity across locations, meeting India's demand for quality healthcare, and benefiting from strong medical value travel driven by cost competitiveness.
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