Yatharth Hospital Reports 52% Q2 Revenue Growth to ₹431.4 Crore

Yatharth Hospital & Trauma Care Services Limited reported record Q2 FY27 revenue of ₹431.42 crore, up 52% year-on-year, supported by 24% growth at established hospitals and a larger contribution from newer facilities. EBITDA rose 50% to ₹102 crore, while net profit increased 17% to ₹48.46 crore for the quarter ended September 30, 2026.

What did Yatharth Hospital report for Q2 FY27?

Yatharth Hospital reported its strongest quarterly revenue and EBITDA performance to date in Q2 FY27. Revenue rose 52% year-on-year and 10% sequentially to ₹431.42 crore, while EBITDA increased 50% year-on-year and 11% quarter-on-quarter to ₹102 crore. The EBITDA margin stood at 23.6% as newer hospitals reached profitability.

For the first half of FY27, revenue grew 52% year-on-year to ₹824.07 crore. H1 EBITDA rose 44% to ₹193.70 crore, while net profit increased 13% to ₹93.88 crore. The company also reported H1 operating cash flow of ₹111.30 crore. Q2 cash profit was ₹81.60 crore, up 36% year-on-year, and H1 cash profit increased 33% year-on-year.

What drove Yatharth Hospital's quarterly growth?

Yatharth Hospital said established facilities in Noida, Greater Noida Extension and Jhansi-Orchha recorded 24% year-on-year revenue growth during the quarter. These hospitals delivered EBITDA margins above 28%, according to management, making them significant contributors to group profitability.

Newer hospitals accounted for 28% of group revenue in Q2 FY27, compared with 11% in the corresponding quarter a year earlier. Management said these facilities moved from an EBITDA loss in the prior-year period to positive EBITDA during H1 FY27. Their improved utilisation and contribution helped support the group's 23.6% Q2 EBITDA margin despite continued expansion.

The company discussed the results on its earnings call held on November 4, 2026. Its earnings presentation had earlier been uploaded to the stock exchanges and its website, and the call recording was subsequently made available through a Regulation 30 disclosure.

How has Yatharth Hospital expanded since its listing?

Yatharth Hospital has expanded its bed capacity from 1,405 beds at the time of its August 2023 listing to about 2,800 beds. Management said that, over the same period, the company has tripled its revenue and profit, reflecting both additional capacity and the scaling up of its hospital network.

The company has previously stated an objective of doubling capacity further over the coming years. The current results indicate that its newer facilities are becoming a more material part of revenue, with their Q2 contribution rising by 17 percentage points from the year-earlier period.

Hospital expansion typically requires upfront investment in infrastructure, equipment, clinical teams and operating systems before facilities approach mature utilisation. Yatharth Hospital's disclosure that newer hospitals became EBITDA-positive during H1 FY27 is therefore relevant to its operating trajectory, although the company did not provide facility-level financial figures in the earnings summary.

What is the proposed Advent International investment?

Yatharth Hospital has entered into a proposed strategic partnership with Advent International involving a primary capital investment of ₹3,150 crore through a preferential issue of equity shares and warrants. The proposed transaction would give Advent International a 24.9% stake and remains subject to necessary regulatory approvals.

Management said the proposed capital would support faster expansion. The investment is notable because the company has outlined plans to increase capacity further while also operating a network that has grown rapidly since listing. No completion date, issue price, dilution details or deployment schedule was disclosed in the provided earnings-call material.

For investors, the proposal links the company's expansion ambition to a potential large primary capital infusion. The transaction has not yet been completed, so its final structure and timing will depend on the regulatory approval process and the terms of the preferential issue.

How do the Q2 results affect investors and hospital operations?

Yatharth Hospital's Q2 figures show that growth came from both established and newer hospitals. Existing hospitals generated 24% revenue growth with EBITDA margins above 28%, while newer hospitals contributed 28% of group revenue and turned EBITDA-positive during H1. This combination supported 52% group revenue growth and a 50% increase in EBITDA.

The 17% increase in Q2 net profit was lower than revenue and EBITDA growth, while the company reported positive operating cash flow of ₹111.30 crore for H1. These reported measures give investors a view of earnings, profitability and cash generation as the hospital network expands. The company did not disclose any share-price movement, patient-volume data, occupancy figures or guidance in the supplied material.

For hospital operations, the result highlights the growing role of recently added facilities. Management's next disclosed strategic milestone is the proposed Advent International transaction, which is awaiting approvals and is intended to support the next phase of capacity growth.

Conclusion

Yatharth Hospital delivered record Q2 FY27 revenue of ₹431.42 crore and EBITDA of ₹102 crore, with growth supported by established hospitals and a sharper contribution from newer facilities. The shift of newer hospitals to positive EBITDA during H1 adds context to the higher revenue mix from these assets, while H1 operating cash flow reached ₹111.30 crore.

The main item to watch is the proposed ₹3,150 crore primary investment by Advent International for a 24.9% stake. Management has said the transaction, subject to regulatory approvals, would accelerate expansion as Yatharth Hospital works towards further increasing capacity from about 2,800 beds.