Fortis Healthcare, one of India’s leading healthcare providers, has reported robust financial results for Q3 FY26, driven by strong performance across its hospital and diagnostics businesses.
The company’s consolidated revenues rose 17.5% year-on-year to Rs. 2,265 crore, while operating EBITDA surged 34.8% to Rs. 505 crore, pushing margins to 22.3% from 19.4% in the same period last year. Profit before tax (before exceptional items) climbed 21.9% to Rs. 312 crore.
The hospital business, the backbone of Fortis’ operations, recorded revenues of Rs. 1,938 crore, up 19.4% YoY, with operating EBITDA increasing 28.9% to Rs. 420 crore and margins improving to 21.7% from 20%. The growth was supported by a 14% rise in occupied beds compared to Q3 FY25.
Ashutosh Raghuvanshi, MD and CEO of Fortis Healthcare, said, “We have witnessed a healthy growth in our hospitals business within all key specialties noticeably Renal Sciences and Orthopedics which grew 27% and 20%, respectively, over the corresponding previous period.
"Our acquisition in Bengaluru enables us to strengthen our presence in this market from approximately 900 beds across seven facilities with a potential to scale up to over 1,500 beds in the future. We continue to progress on our brownfield expansion plans and are evaluating further inorganic opportunities in our existing clusters. The sustained recovery seen in both revenue and EBITDA margin for our diagnostics business is encouraging and we expect this to progressively improve.”
Fortis expanded its footprint with key acquisitions and launches in Q3 FY26. In January 2026, the company acquired the 125-bedded People Tree Hospital in Yeshwanthpur, Bengaluru, for INR 430 crore, providing land and building for future expansion to over 300 beds. In November 2025, it launched ‘Adayu’, a 36-bedded specialized mental health facility in Gurugram.
The diagnostics arm, led by Agilus, showed steady growth with 9.94 million tests conducted in Q3 FY26 versus 9.59 million a year earlier. Revenue rose 8.3% to INR 371 crore, while operating EBITDA jumped 73.5% to INR 86 crore, lifting margins to 23.1% from 14.4%. Fortis’ preventive and specialized portfolios now account for 12% and 35% of revenue, respectively, up from 10% and 33% in Q3 FY25.
Fortis’ net debt stood at INR 2,547 crore with a net debt-to-EBITDA ratio of 1.24x, reflecting strategic investments in acquisitions, including the PE stake in Agilus Diagnostics and the Shrimann Hospital in Jalandhar, Punjab.
