Asarfi OPD revenue rises 39% as quarterly surgeries grow 25%

Asarfi Hospital Limited reported OPD revenue of Rs 8.87 crore in Q2’FY27, up 39% year on year, while total surgeries rose 25% to 2,295. Outpatient visits increased 25% to 41,285, faster than the 13% rise in inpatient admissions to 4,429, indicating that outpatient activity accounted for the quicker patient-volume increase.

How fast did Asarfi’s patient volumes and revenue grow?

Asarfi’s outpatient department, or OPD, visits increased 25% year on year and 12% quarter on quarter to 41,285 in Q2’FY27. Inpatient department, or IPD, admissions grew 13% year on year and 5% sequentially to 4,429. OPD visits rose by 8,330 from Q2’FY26 and by 4,327 from Q1’FY27, compared with increases of 499 and 193, respectively, for IPD admissions.

Asarfi’s OPD revenue rose 39% year on year and 18% quarter on quarter to Rs 8.87 crore, exceeding the corresponding 17% and 12% growth in IPD revenue. IPD revenue remained the larger stream at Rs 44.00 crore in Q2’FY27, but its annual increase was 22 percentage points below OPD revenue growth.

What changed in Asarfi’s surgery volumes in Q2’FY27?

Asarfi completed 2,295 surgeries in Q2’FY27, up 25% from 1,831 in Q2’FY26 and 16% from 1,980 in Q1’FY27. The quarter added 464 surgeries from a year earlier and 315 from the preceding quarter, while IPD admissions increased 13% year on year to 4,429.

The specialty mix changed materially across the three reported periods. Ear, nose and throat, or ENT, surgeries rose to 261 from 146 in Q1’FY27, while cardiology reached 483, close to the 488 recorded in Q2’FY26. Gastroenterology fell to 419 from 546 a year earlier, and general surgery declined to 159 from 201. The Others category contributed 449 procedures, but no Q2’FY26 comparison is available because the presentation marks that entry with a dash.

How did Asarfi’s hospital units perform in Q2’FY27?

Asarfi’s Super-Specialty Hospital Unit had 285 beds in Q2’FY27, compared with 265 in Q2’FY26, and its occupancy recovered to 64% from 59% in Q1’FY27. Average revenue per occupied bed, or ARPOB, increased 17% year on year and 1% quarter on quarter to Rs 23,716. Occupancy matched the 64% reported a year earlier despite the addition of 20 beds.

The Cancer Hospital Unit maintained 65 beds but reported occupancy of 40%, down from 56% in Q1’FY27 and 46% in Q2’FY26. Its ARPOB rose 59% sequentially to Rs 50,572 from Rs 31,892 and was close to Rs 50,614 a year earlier. Total capacity across the two units was 350 beds in Q2’FY27, including 297 effective beds, and the presentation says occupancy is calculated on effective beds.

The units reported average length of stay of 4.6 days at the Super-Specialty Hospital Unit and 4.5 days at the Cancer Hospital Unit. The Cancer Hospital Unit’s ARPOB of Rs 50,572 was more than twice the Rs 23,716 reported by the Super-Specialty Hospital Unit, while its occupancy was 24 percentage points lower at 40% versus 64%.

Which specialties changed Asarfi’s revenue mix?

Asarfi’s Super-Specialty Hospital Unit revenue increased to Rs 41.30 crore in Q2’FY27 from Rs 32.20 crore in Q2’FY26. Paediatrics and neonatology recorded the fastest disclosed growth among its listed specialties at 78% year on year, followed by neurosciences and Others at 42% each. Cardiology remained the largest specialty at 23% of revenue, although its share fell from 26% a year earlier.

The unit’s three largest specialties accounted for 50% of revenue in Q2’FY27, down from 53% in Q2’FY26. Neurosciences increased its revenue share to 17% from 15%, while paediatrics and neonatology reached 8% from 6%. General surgery was the only listed Super-Specialty specialty with declining revenue, down 2%, and its revenue share fell to 6% from 8%.

Asarfi’s Cancer Hospital Unit revenue was Rs 11.60 crore in Q2’FY27, compared with Rs 11.90 crore a year earlier. Medical oncology made up 58% of its mix and grew 4%, while haemato oncology rose 46% and head and neck oncology increased 43%. Surgical oncology declined 56% and radiation oncology fell 18%, with their shares dropping to 6% and 16%, respectively, from 14% and 19%.

What business actions did Asarfi disclose for Q2’FY27?

Asarfi identified connections with 1,500 doctors across Jharkhand and parts of West Bengal as a referral driver during Q2’FY27, which it describes as July to September 2026. Management also said promotional coverage expanded to 10 districts from seven and that outreach clinics started at multiple locations where consultants conducted OPD sessions. The presentation does not quantify how much these activities contributed to the 39% rise in OPD revenue.

Asarfi also listed a Preferred Provider Network tie-up and arrangements with Magma, ManipalCigna, Galaxy Health, IFFCO Tokio, Niva Bupa and MD India. Other disclosed actions included health camps and awareness programmes for RSKBY business, regular round-table meetings and continuing medical education sessions, digital promotion, and branding campaigns. Management said the call centre had become a business-generation channel and that promotional contribution was monitored by area and agency.

Conclusion

Asarfi’s Q2’FY27 operating data shows that outpatient and procedure activity grew faster than inpatient volumes. OPD revenue rose 39% to Rs 8.87 crore, OPD visits increased 25% to 41,285, and surgeries grew 25% to 2,295, while IPD revenue rose 17% to Rs 44.00 crore and admissions increased 13% to 4,429.

The next indicators to watch are whether Super-Specialty occupancy holds at 64% following expansion to 285 beds and whether Cancer Hospital occupancy improves from 40% while ARPOB remains near Rs 50,572. Management has disclosed outreach clinics, a 1,500-doctor connection programme and expanded coverage across 10 districts, but it has not stated numerical targets for those initiatives.