Max Healthcare Q2 FY27 consolidated revenue Rs 2,569.21 cr, PAT Rs 414.45 cr

What the numbers show

• Net margin was 16.13% of revenue, down 687 bps from 23.01%.

• Basis: Consolidated statement of unaudited financial results for the quarter ended September 30, 2026 (Q2 FY27), with comparison to the quarter ended September 30, 2025, as per the statement of financial results.

• Revenue from operations: Rs 2,569.21 cr in the quarter ended September 30, 2026, versus Rs 2,135.47 cr in the quarter ended September 30, 2025.

• Other income: Rs 40.90 cr versus Rs 32.90 cr a year earlier.

• Total income: Rs 2,610.11 cr versus Rs 2,168.37 cr in the corresponding previous quarter.

• Total expenses: Rs 2,069.19 cr versus Rs 1,722.34 cr a year earlier.

• Purchase of drugs, consumables and implants: Rs 521.94 cr versus Rs 465.15 cr.

• Change in inventories of drugs, consumables and implants: Rs (6.63) cr versus Rs (0.26) cr.

• Employee benefits expense: Rs 399.31 cr versus Rs 338.32 cr.

• Professional and consultancy fee: Rs 564.13 cr versus Rs 452.73 cr.

• Finance costs: Rs 73.84 cr versus Rs 53.92 cr.

• Depreciation and amortization expense: Rs 137.63 cr versus Rs 108.10 cr.

• Other expenses: Rs 378.97 cr versus Rs 304.38 cr.

• Profit before exceptional items and tax (PBT): Rs 540.92 cr versus Rs 446.03 cr.

• Exceptional items: Nil in the quarter ended September 30, 2026; Nil in the quarter ended September 30, 2025 (no amount disclosed for these quarters in the statement of financial results).

• Profit before tax: Rs 540.92 cr versus Rs 446.03 cr.

• Total tax expense: Rs 126.47 cr versus Rs 145.27 cr.

• Profit for the period (PAT): Rs 414.45 cr versus Rs 491.30 cr.

• Paid-up equity share capital: Rs 973.31 cr versus Rs 972.24 cr.

• Earnings per equity share (basic): Rs 4.26 versus Rs 5.05.

• Earnings per equity share (diluted): Rs 4.24 versus Rs 5.02.

In Q2 FY27, consolidated revenue from operations, as reported in the statement of financial results, increased to Rs 2,569.21 cr from Rs 2,135.47 cr in the corresponding quarter of the previous year. Total income moved to Rs 2,610.11 cr from Rs 2,168.37 cr over the same period.

On the cost side, total expenses rose to Rs 2,069.19 cr from Rs 1,722.34 cr. Key cost lines that increased year-on-year include purchase of drugs, consumables and implants (Rs 521.94 cr versus Rs 465.15 cr), employee benefits expense (Rs 399.31 cr versus Rs 338.32 cr) and professional and consultancy fee (Rs 564.13 cr versus Rs 452.73 cr). Finance costs and depreciation and amortization expense also rose to Rs 73.84 cr and Rs 137.63 cr respectively, compared with Rs 53.92 cr and Rs 108.10 cr a year earlier.

Profit before tax for the quarter was Rs 540.92 cr, up from Rs 446.03 cr in the corresponding previous quarter, according to the statement of financial results. Total tax expense declined to Rs 126.47 cr from Rs 145.27 cr. Profit after tax for the quarter was Rs 414.45 cr, compared with Rs 491.30 cr in the same quarter last year. Basic earnings per share stood at Rs 4.26 versus Rs 5.05, while diluted earnings per share were Rs 4.24 versus Rs 5.02.