Global Health Limited (NSE: Medanta, BSE: 543654) reported robust revenue growth in Q3 FY26, underscoring sustained healthcare demand, even as near-term profitability was moderated by capacity expansion and one-time regulatory costs. Consolidated total income for the December quarter rose 19.1% year-on-year to ₹11,428 million. EBITDA excluding the newly operational Noida hospital increased 10.9% to ₹2,814 million, with margins of 25.4%, reflecting operating leverage at mature facilities. However, consolidated EBITDA including Noida declined 1.7% to ₹2,494 million, as the hospital—commissioned in September 2025—reported revenue of ₹343 million alongside an EBITDA loss of ₹320 million, typical of early-stage ramp-up.
Profit after tax stood at ₹950 million, impacted by depreciation and finance costs related to the Noida expansion and a non-recurring exceptional charge of ₹366 million due to the statutory implementation of new Labour Codes.
Underlying operating indicators remained positive. Inpatient and outpatient volumes grew 14.3% and 19.5%, respectively, while ARPOB rose 9.9% to ₹67,361, supported by improved case mix and shorter average length of stay. Bed capacity expanded with the addition of 144 beds during the quarter.
For 9M FY26, total income increased 17.6% to ₹33,131 million and PAT rose 8.5% to ₹4,124 million, highlighting Medanta’s long-term growth trajectory despite near-term margin pressures from expansion-led investments.
