Apollo Hospitals Enterprise Ltd.Strong 35% PAT Growth

Apollo Hospitals delivered exceptional Q3 FY26 results despite seasonal weakness, with consolidated revenue growing 17% year-on-year to ₹6,477 crore and PAT surging 35% to ₹502 crore.

Consolidated EBITDA increased 27% to ₹965 crore, driven by broad-based double-digit growth across all three business verticals. Healthcare Services revenue grew 14% to ₹3,183 crore with EBITDA margins at 24.8%, supported by balanced growth drivers of 5% volume, 4% case mix improvement, and 5% pricing. Apollo HealthCo revenues jumped 20% to ₹2,827 crore with EBITDA more than doubling to ₹128 crore. The digital business achieved record low cash losses of ₹29 crore and added 2 million users.

Management outlined an ambitious expansion plan with four new hospitals commissioning in FY27 and 1,500 beds to be added over FY27-FY28. Despite ₹150 crore in new hospital ramp-up costs, management expects to maintain margin stability through 100 bps improvement from asset utilization and cost optimization. Digital business cash breakeven has been revised to Q1 FY27.