Narayana Hrudayalaya Q2 FY27 Results: Consolidated Revenue Rises 73% To ₹2,844 Crore As Patient Volumes Rise

Narayana Hrudayalaya Limited, which operates under the Narayana Health brand, reported a 73% increase in consolidated revenue to ₹2,844 crore in Q2 FY27. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 42% to ₹605.4 crore.

The increase in consolidated revenue was supported by the inclusion of its UK business following the acquisition. Meanwhile, the India hospitals business reported higher patient volumes, a stronger mix of complex procedures and improved operating margins.

The Narayana Hrudayalaya share price closed at ₹1,720.20 on the National Stock Exchange (NSE) on 30 October 2026.

Narayana Hrudayalaya Q2 Results: Other Key Highlights

The company attributed much of the increase in its consolidated revenue to the UK acquisition. Excluding the UK business, revenue grew 22.6% to ₹2,015.6 crore.

The EBITDA margin stood at 21.3%, compared with 25.9% a year earlier. Excluding the UK, EBITDA increased 27.8% to ₹545.2 crore, with the margin improving to 27%.

Profit after tax (PAT) increased 16.6% to ₹301.2 crore. Higher depreciation and amortisation, along with finance costs largely associated with the UK acquisition, affected the pace of profit growth.

India Hospitals Business Sees Stronger Revenue And Margins

India revenue increased 16.6% to ₹1,440.2 crore. International patient revenue rose 75.7%, while higher patient volumes and a richer mix of complex procedures supported the business.

EBITDA for India hospitals increased 30.8% to ₹354.8 crore. The hospital EBITDA margin improved to 26.8% from 23.8% in the year-ago quarter. The company also reported growth in inpatient discharges and outpatient footfalls.

What Did Management Say?

Dr. Emmanuel Rupert, Managing Director and Group CEO, said India delivered strong growth through patient volumes and a higher share of complex procedures. He also highlighted improved profitability in Cayman, where the insurance business narrowed its losses.

On the UK business, he said margins reflected near-term separation-related costs that the company expects to normalise over time. Management remains focused on operational efficiencies and expanding self-pay and insured patient business.

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