Max Healthcare Q3 FY26: Net Profit Up 9% to ₹344 Cr Despite Margin Dip

ealthcare reported a 9% YoY increase in net profit to ₹344 crore for Q3 FY26 (Dec 2025 quarter), from ₹316 crore last year. Gross revenue grew 10% to ₹2,608 crore, supported by 7% higher occupied bed days and 14% rise in international patient revenue (₹230 crore). Operating EBITDA rose 4% to ₹648 crore, but margin compressed to 26.1% from 27.3% due to: Loss of high-value chemotherapy drugs for CGHS patients Pre-commissioning costs for new capacity (Mohali, Nanavati Max, Max Smart) GST rate changes Temporary shift to lower-tariff PSU patients during cashless service disruption Results also included ₹55 crore exceptional expenses related to wage code and amalgamation stamp duty.