Apollo Hospitals (APOLLOHOSP) Q3 25/26 earnings summary

Executive summary

• Consolidated revenue grew 17% year-over-year to INR 6,477 crore in Q3 FY26, with EBITDA up 27% and PAT up 35%.

• All business segments, including Healthcare Services, Diagnostics & Retail Health, and Digital Health & Pharmacy Distribution, reported double-digit revenue and EBITDA growth.

• New capacity launches included a 250-bed quaternary care hospital in Pune and plans to add 4,400 capacity beds (~3,600 census beds) over five years.

• Clinical and digital initiatives featured advanced robotic surgery, gene therapy, AI-based diagnostics, and expanded telehealth services.

• Interim dividend of Rs.10 per share declared for FY2025-26.

Financial highlights

• Q3 FY26 consolidated revenue: INR 6,477 crore (+17% YoY); EBITDA: INR 965 crore (+27% YoY); PAT: INR 502 crore (+35% YoY).

• YTD Dec FY26 consolidated revenue: INR 18,623 crore (+15% YoY); EBITDA: INR 2,758 crore (+22% YoY); PAT: INR 1,412 crore (+34% YoY).

• Healthcare services Q3 revenue: INR 3,183 crore (+14% YoY), EBITDA margin 24.8%.

• Diagnostics & Retail Health Q3 revenue: INR 467 crore (+20% YoY), EBITDA margin 10.2%.

• Digital Health & Pharmacy Distribution Q3 revenue: INR 2,827 crore (+20% YoY), EBITDA margin 4.5%.

Outlook and guidance

• Four new hospitals to be commissioned in Hyderabad, Kolkata, Bangalore, and Gurugram, adding ~1,500 beds; half to be operationalized in the upcoming fiscal year.

• Targeting annualized revenue run rate of INR 25,000 crore by Q4 FY27 with 7% EBITDA margin.

• Digital business cash EBITDA break-even now expected in Q1 FY27 due to insurance revenue recognition changes.

• GMV growth guidance for digital business at 30% for FY26, adjusted for GST and Amazon channel exit.

• Positive industry outlook supported by government initiatives to establish regional medical hubs and promote medical value travel.