Manipal Hospitals announced robust financial results for the second quarter of fiscal year 2027 (Q2 FY27), ending September 30, 2026. Revenue from operations surged by 37.3% year-on-year to ₹3,399 crore. EBITDA also saw a significant increase of 29.8% to ₹882 crore. The company experienced strong growth in inpatient and outpatient volumes, alongside improved occupancy rates, highlighting a positive momentum across its network.
Manipal Hospitals Announces Strong Q2 FY27 Performance
Bengaluru, Karnataka – November 13, 2026 – Manipal Health Enterprises Limited (Manipal Hospitals), a leading pan-India multi-specialty hospital network, today announced its financial results for the quarter ended September 30, 2026 (Q2 FY27). The company reported a strong operating performance, marked by sustained patient demand and capacity absorption.
Key Financial Highlights for Q2 FY27
- Revenue from operations stood at ₹3,399 crore, representing a substantial 37.3% year-on-year growth.
- EBITDA reached ₹882 crore, an increase of 29.8% compared to the previous year.
- EBITDA margin was reported at 26.0% (26.8% excluding Sahyadri).
- For the first half of fiscal year 2027 (H1 FY27), revenue grew by 37.7% to ₹6,490 crore, and EBITDA increased by 28.2% to ₹1,631 crore.
Operational Performance Boosted by Volume Growth
The company observed significant growth in patient volumes, with inpatient volumes increasing by 35.0% to approximately 169,000 and outpatient volumes rising by 27.2% to approximately 1.74 million in Q2 FY27. Occupancy improved by 160 basis points year-on-year to 70.1%. The network’s licensed bed capacity expanded to 13,440 with the opening of a new 300-licensed-bed hospital in Electronic City, Bengaluru during the quarter.
Sahyadri Integration and High-Acuity Specialties
The integration of Sahyadri Hospitals, acquired on October 3, 2025, is contributing positively to the consolidated results. Sahyadri contributed ₹375 crore in revenue and ₹73 crore in EBITDA during Q2 FY27. High-acuity specialties, including Cardiac Sciences, Oncology, and Neurosciences, continue to be key drivers of growth, with oncology revenue growing 51% and neurosciences 47% year-on-year in H1 FY27.
Management Commentary
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.”
Source: BSE
