Max Healthcare reported a robust financial performance for the third quarter of FY26, with gross revenue rising 10% year-on-year (YoY) to ₹2,608 crore. Network Operating EBITDA increased 4% YoY to ₹648 crore, while Network Profit After Tax (PAT) grew 9% to ₹344 crore. The company’s operating margin for the quarter stood at 26.1%.
Operational metrics remained healthy during Q3 FY26, with bed occupancy at 74% and Occupied Bed Days (OBDs) up 7% YoY. Average Revenue Per Occupied Bed (ARPOB) was reported at ₹77.9 thousand. The company also provided free treatment to 38,915 outpatients (OPD) and 1,568 inpatients (IPD) from economically weaker sections. Revenue from international patients accounted for approximately 9% of total hospital revenue.
In expansion developments, Max Healthcare executed a Share Purchase Agreement to acquire a 100% equity stake in Yerawada Properties Pvt. Ltd. (YPPL) to develop an approximately 450-bed hospital in Pune. Ongoing expansion projects were noted at MSSH Mohali, Nanavati Max, and Max Smart facilities. The company’s Board has also approved adding 260 beds at the MSSH Dwarka facility.
For the nine months ended December 2025, Max Healthcare’s network gross revenue rose 19% to ₹7,874 crore, with Network Operating EBITDA up 16% at ₹1,956 crore. Network PAT after exceptional items increased 30% YoY to ₹1,244 crore.
