Fortis Healthcare reported a 21.9% year-on-year decline in net profit to Rs 193.7 crore for the quarter ended December 31, 2025, even as revenue rose 17.5% to Rs 2,265 crore. The company announced its results after market hours on Friday (Feb 13).
Operational performance remained robust, with EBITDA increasing 35% to Rs 506 crore and margins expanding to 22.3% from 19.4% a year earlier. However, net debt surged to Rs 2,547 crore, pushing the net debt-to-EBITDA ratio to 1.24 times from 0.41 times last year. The rise in debt was primarily due to funding for the acquisition of a private equity stake in Agilus Diagnostics and the purchase of Shrimann Hospital in Jalandhar.
The hospital business continued to drive growth, with a 14% increase in occupied beds during the quarter. In January 2026, Fortis acquired the 125-bed People Tree Hospital in Bengaluru for Rs 430 crore, with plans to expand capacity to over 300 beds. It also launched Adayu, a 36-bed mental health facility in Gurugram, in November 2025.
Managing Director and CEO Ashutosh Raghuvanshi highlighted strong growth in key specialities, with Renal Sciences and Orthopaedics expanding 27% and 20%, respectively. He noted that the Bengaluru acquisition strengthens the company’s presence in the city, where it operates around 900 beds across seven facilities, with potential to scale up to more than 1,500 beds.
The diagnostics arm also showed steady improvement, with Agilus conducting 9.94 million tests compared to 9.59 million in the same quarter last year. The preventive health portfolio’s revenue share rose to 12% from 10%, while specialised services increased to 35% from 33% year-on-year.
