Manipal Health Enterprises reports a slight decline in Q1 net profit as debt linked to Sahyadri acquisition impacts margins, even as the company’s operational momentum and revenue surge, highlighting the ongoing benefits of its India-wide network expansion.
Manipal Health Enterprises, the operator of Manipal Hospitals, said first-quarter profit slipped as the cost of debt linked to its Sahyadri acquisition weighed on the bottom line, even as the business delivered stronger operating momentum across its network. The company reported net profit of ₹243 crore for the quarter, down 4.2% from a year earlier, but said adjusted profit after tax rose 30.9% once the Sahyadri-related interest charge was stripped out.
Revenue from operations climbed 38.1% to ₹3,091 crore, while earnings before interest, taxes, depreciation and amortisation rose 26.4% to ₹749 crore. Manipal said average revenue per occupied bed, excluding Sahyadri, increased 8.7% to ₹77,200 a day, helped by a richer case mix and stronger revenue intensity. Inpatient volumes rose 38.8% and outpatient visits increased 26%, while occupancy improved 290 basis points to 65%.
Dilip Jose, the managing director and chief executive, said the quarter reflected “the strength of our pan-India network, sustained patient demand and continued growth in high-acuity specialties”. He said the group was still absorbing newly added capacity while trying to preserve clinical quality and operational discipline. The company also said the integration of Sahyadri remained a priority as it seeks scale benefits from the deal and uses its public listing to support future investment.
The hospital chain said Sahyadri itself posted 12.8% revenue growth and 18.7% EBITDA growth in the quarter, while specialty-led inpatient revenue grew 45% year-on-year. Oncology and orthopaedics were among the strongest performers, with inpatient revenue rising 62% and 49%, respectively. Manipal now runs 50 hospitals with more than 13,400 licensed beds, a network supported by over 11,000 doctors and more than 25,000 employees, as India’s large private hospital groups continue to report robust demand for complex care and expansion-driven growth.
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