Healthcare Global Enterprises Limited (HCG), India’s largest dedicated cancer hospital network, today reported strong financial and operational performance for the quarter and nine months ended 31 December 2025.
Revenue from operations came to ₹6,331 Mn in Q3FY26, up 13% YoY; ₹18,931 Mn in 9MFY26, up 16% YoY. The company reported adjusted EBITDA of ₹1,108 Mn in Q3FY26, a 20% YoY increase; ₹3,458 Mn in 9MFY26, up 20% YoY. Similarly, EBITDA margin was at 17.5% in Q3, up 98 bps YoY; 18.3% in 9MF, up 60 bps YoY.
Adjusted PAT was ₹70 Mn in Q3; ₹216 Mn in 9MF.
BS Ajaikumar, Founder and Non-Executive Chairman, HCG, emphasized the network’s patient-focused approach: "At HCG, our guiding principle is to deliver the right treatment, the first time, with a clear and consistent focus on patient outcomes. As a single-specialty oncology institution with a nationwide network, we have built a deeply integrated care model that brings together advanced diagnostics, genomics and multi-omics, organ-specific pathology, tumour-board-led decision-making, and emerging therapies such as CAR-T."
"Our commitment to clinical research is reflected in the scale and quality of our published work, with HCG clinicians contributing to one of the largest bodies of oncology research from India and regularly representing the institution through podium presentations and poster sessions at leading international forums across the world."
"This research-led approach, combined with the adoption of proven next-generation technologies, positions HCG at the forefront of cancer care. As we expand across India, we remain focused on translating innovation into measurable outcomes and extending high-quality oncology care to patients across both metro and non-metro markets."
Dr. Manish Mattoo, CEO, HCG, noted the company’s operational resilience: "Our Q3 performance reflects steady execution across the network despite a seasonally softer quarter for the healthcare industry. We delivered revenues of ₹6,331 Mn with performance remaining balanced across our regional clusters, underscoring resilient demand for high-quality oncology care across key modalities including medical, radiation, and surgical oncology.
"The quarter further demonstrated the scalability of our model, with adjusted EBITDA increasing 20% year-on-year to ₹1,108 Mn and margins expanding by 98 basis points to 17.5%, underpinned by operating leverage."
"HCG’s focused single-specialty model, anchored in integrated care delivery, tumour-board-led clinical decision-making, and consistent clinical outcomes, continues to differentiate us in a competitive environment, supporting strong referral flows and patient trust.
"Alongside this, we have strengthened our leadership bandwidth to support the next phase of growth, with senior leadership augmentation now completed across marketing, domestic sales, and international business."
