Fortis Healthcare announced strong unaudited consolidated results for Q3 FY26, ending December 31, 2025. Consolidated Revenue grew 17.5% YoY to INR 2,265 Cr, while Operating EBITDA surged 34.8% to INR 505 Cr, achieving a margin of 22.3%. Both the Hospital and Diagnostics businesses demonstrated significant year-over-year improvements across key operational and financial metrics.
Consolidated Financial Highlights for Q3 FY26
Fortis Healthcare reported healthy financial results for the third quarter of the fiscal year ending December 31, 2025. Key consolidated performance indicators include:
- Consolidated Revenue reached INR 2,265 Cr, marking a 17.5% increase Year-over-Year (YoY).
- Operating EBITDA saw substantial growth of 34.8% to INR 505 Cr, leading to an operating margin of 22.3% (up from 19.4% in Q3 FY25).
- Profit Before Tax (before exceptional items) grew 21.9% to INR 312 Cr.
- Consolidated PAT (excluding exceptional items) stood at INR 243 Cr, reflecting a 5.6% increase.
For the nine months ended December 31, 2025 (9MFY26), consolidated revenues grew 17.1% to INR 6,763 Cr, and Operating EBITDA rose 34.7% to INR 1,553 Cr.
Debt Position Update
As of December 31, 2025, the Net Debt stood at INR 2,547 Cr. This resulted in a Net Debt to EBITDA ratio of 1.24x, compared to 0.41x as on December 31, 2024. The increase in debt was primarily driven by funding for the acquisition of a stake in Agilus Diagnostics and the purchase of Shrimann Hospital in Jalandhar.
Hospital Business Performance Review
The Hospital Business showcased sustained momentum:
- Revenues grew 19.4% YoY to INR 1,938 Cr.
- Operating EBITDA increased 28.9% to INR 420 Cr, with the margin improving to 21.7% from 20.0% in Q3 FY25.
- Occupancy remained steady at 67%, but occupied beds increased by 14.3% to 3,189 compared to Q3 FY25.
- Average Revenue Per Occupied Bed (ARPOB) grew 4.5% to INR 2.56 Cr per annum.
- Revenue from focus specialties (Oncology, Renal, Orthopedics, etc.) grew 19% and contributed 61% of hospital revenues.
Hospital Business Key Updates
Recent strategic developments include the acquisition of the 125-bedded People Tree Hospital in Yeshwanthpur, Bengaluru, in January 2026 for INR 430 Cr, positioning for future expansion up to 300 beds. Furthermore, Fortis launched ‘Adayu’, a specialized 36-bedded mental health care facility in Gurugram in November 2025.
Diagnostics Business Highlights
The Diagnostics segment also delivered strong operating leverage:
- Gross Revenues increased 8.3% YoY to INR 371 Cr in Q3 FY26.
- Operating EBITDA surged 73.5% to INR 86 Cr.
- The Operating EBITDA Margin (gross basis) reached 23.1%, significantly up from 14.4% in Q3 FY25 (excluding one-offs, the margin was 21.3% in Q3 FY25).
- Agilus conducted 9.94 million tests during the quarter and expanded its network by adding 175+ Customer Touchpoints (CTPs).
Clinical Excellence Milestones
The company highlighted several achievements in clinical care:
- Fortis Hospital, Gurugram, successfully performed a heart transplant on a patient with critically low 15% heart function.
- Fortis Hospital, Anandpur, Kolkata, conducted a complex open heart surgery involving Aortic Valve Replacement.
- Fortis Hospital, Mohali, and Fortis Hospital, Gurugram, secured JCI re-accreditation for the sixth and second consecutive times, respectively.
Source: BSE
