Fortis Healthcare reported a 3% year-on-year decline in consolidated net profit to ₹312.4 crore for the second quarter of FY27, compared with ₹321.9 crore in the corresponding quarter last year. The decline in profit was due to a lower exceptional gain during the quarter compared with the year-ago period.
Revenue from operations rose 17.3% year-on-year to ₹2,735 crore from ₹2,331 crore in Q2 FY26. EBITDA increased 12% to ₹623.2 crore from ₹556.3 crore a year ago. However, EBITDA margin contracted to 22.8% from 23.9% in the year-ago quarter.
The company’s hospital business reported revenue of ₹2,340 crore, up 18.6% year-on-year. The growth was driven by an approximately 7% increase in average revenue per occupied bed (ARPP) and a nearly 9% increase in occupied beds. The hospital business reported a PAT margin of 12.1%, compared with 14.5% in Q2 FY26.
The diagnostics business reported gross revenue of ₹448 crore, marking a 12.2% increase year-on-year. Its PAT margin improved to 15.2% from 14.8% in the corresponding quarter last year.
Expansion plans
Fortis Healthcare, through its wholly owned subsidiary Fortis Hospotel, has entered into definitive agreements with Seth Sunder Lal Jain Charitable Eye Hospital to provide healthcare services at a 400-plus-bed super-specialty hospital in Ashok Vihar, New Delhi. The facility, spread across approximately 3.1 acres, is expected to commence operations in three to four years, subject to necessary approvals, with beds being operationalised in phases.
Separately, through its wholly owned subsidiary International Hospitals, the company recently acquired Suguna Hospital, a 110-bed facility in Bengaluru’s Rajajinagar. The transaction includes the acquisition of the hospital’s business operations, building and land. The facility has the potential to expand to around 150 beds.
The company is also evaluating strategic mergers and acquisitions, greenfield projects and built-to-suit models in established markets such as Mumbai, Kolkata and Hyderabad. It is also exploring expansion opportunities in select underserved Tier 2 markets across central India and near its existing clusters.
Diagnostics business
Fortis’ diagnostics business, Agilus, continued to expand its network, taking its total customer touch points to 4,551 as of September 30, 2026. The business conducted around 11.39 million tests in Q2 FY27, compared with 10.62 million tests in the year-ago quarter.
The share of B2C revenue increased to 54% from 52% in Q2 FY26. Revenue from preventive and specialised portfolios grew 28% and 14%, respectively, during the quarter.
Balance sheet
The company’s net debt stood at ₹2,188 crore as of September 30, 2026. Net debt-to-EBITDA improved to 0.87 times from 0.96 times a year ago, while net debt-to-equity declined to 0.20 times from 0.23 times.
Commenting on the results, Ashutosh Raghuvanshi, MD and CEO of Fortis Healthcare, said the company maintained its growth trajectory across its hospital and diagnostics businesses in Q2 FY27. He added that the acquisition of Suguna Hospital and the agreement for the Ashok Vihar facility would strengthen its presence in the Bengaluru and Delhi NCR clusters.
Fortis Healthcare shares closed at ₹819.80 on November 5, rising ₹29.15 or 3.69% ahead of earning announcements.
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