Medanta posts 19% YoY growth in Q3 FY26 revenue despite Noida ramp-up costs

New Delhi: Global Health Limited reported a strong performance in the third quarter of FY2026, with consolidated total income rising 19.1 percent year-on-year to Rs 11,428 million.

EBITDA excluding the Noida facility stood at Rs 2,814 million, marking a growth of 10.9 percent year-on-year, with margins at 25.4 percent. Including Noida, EBITDA was Rs 2,494 million, reflecting a marginal decline of 1.7 percent year-on-year and margins of 21.8 percent.

Medanta Noida, which commenced operations in September 2025, generated revenue of Rs 343 million during the quarter and reported an EBITDA loss of Rs 320 million as it remains in its early operational phase.

Profit after tax for the quarter was Rs 950 million, impacted by depreciation and finance costs related to the Noida hospital, along with initial operating losses. Additionally, PAT was adversely affected by a one-time, non-recurring statutory impact arising from the implementation of new Labour Codes, classified as exceptional items and amounting to Rs 366 million in Q3 FY2026.

During the quarter, Medanta added a total of 144 beds, comprising 42 beds at its Patna facility and 102 beds at the Noida hospital. Patient volumes remained robust, with in-patient numbers increasing by 14.3 percent and out-patient visits rising by 19.5 percent year-on-year. Average length of stay improved by 6.6 percent year-on-year to 3.02 days, while occupied bed days increased by 6.8 percent, translating into an occupancy of approximately 59 percent despite the expanded bed capacity.

Average revenue per occupied bed (ARPOB) increased by 9.9 percent year-on-year to Rs 67,361, driven by improvements in average length of stay and a favourable change in case mix. Revenue from matured hospitals rose 9.4 percent year-on-year to INR 7,020 million, with EBITDA of Rs 1,675 million and margins of 23.9 percent. Developing hospitals, excluding Noida, reported strong revenue growth of 21.5 percent year-on-year to INR 3,651 million, with EBITDA rising 13.3 percent to Rs 1,156 million and margins at 31.7 percent.

International patient revenue grew sharply by 29.9 percent year-on-year to Rs 703 million, supported by higher international patient volumes. The OPD pharmacy business continued its strong momentum, delivering double-digit growth, with revenue increasing 30.3 percent year-on-year to Rs 465 million.