Jupiter Life Line Hospitals Q2 FY27 results: net profit down 1.9% to ₹56.36 crore, revenue up 16.0%

How did Jupiter Life Line Hospitals perform in Q2 FY27?

Jupiter Life Line Hospitals reported consolidated revenue of ₹456.50 crore in Q2 FY27, up 16.0% from ₹393.63 crore in Q2 FY26 and 11.1% from ₹410.98 crore in Q1 FY27. EBITDA rose 15.8% year on year to ₹106.85 crore and 34.8% sequentially from ₹79.27 crore. The EBITDA margin was 23.4%, unchanged from Q2 FY26 but 4.1 percentage points above Q1 FY27.

Profit before tax was ₹75.08 crore, up 1.2% from ₹74.22 crore in Q2 FY26 and 48.5% from ₹50.55 crore in Q1 FY27. Net profit was ₹56.36 crore, down 1.9% from ₹57.48 crore year on year and up 50.3% from ₹37.51 crore sequentially. Basic EPS was ₹1.72, against ₹8.75 in Q2 FY26 and ₹5.72 in Q1 FY27.

On a standalone basis, revenue was ₹364.6 crore, up 15.4%, and profit after tax was ₹51.45 crore, against ₹54.6 crore before tax. The board approved the consolidated and standalone quarterly and half-year results along with the limited review report.

What changed in Jupiter Life Line Hospitals' costs and profit?

Total expenses rose 18.5% year on year to ₹391.96 crore from ₹330.68 crore, exceeding the 16.0% increase in revenue. Employee cost increased 28.6% to ₹81.33 crore from ₹63.25 crore, other expenses rose 10.6% to ₹181.81 crore from ₹164.38 crore, depreciation increased 32.7% to ₹28.48 crore from ₹21.46 crore, and finance costs rose 76.4% to ₹13.83 crore from ₹7.84 crore.

The investor presentation attributed the higher depreciation to capitalisation of newly added beds and said higher finance costs resulted from increased debt drawdown for ongoing capex. It also said H1 FY27 EBITDA included initial ramp-up losses of ₹9.7 cr at Dombivli Hospital and higher marketing costs related to launch activities. There was no exceptional item.

Other income fell 6.5% to ₹10.54 crore from ₹11.27 crore in Q2 FY26. Tax expense increased 11.8% to ₹18.73 crore from ₹16.75 crore. These movements contributed to net profit being ₹1.12 crore lower despite profit before tax being ₹0.86 crore higher year on year.

How did the first half of FY27 go?

In H1 FY27, consolidated revenue was ₹867.48 crore, up 16.2% from ₹746.58 crore in H1 FY26, while total income rose 15.3% to ₹888.61 crore from ₹770.67 crore. Profit before tax was ₹125.64 crore, down 7.6% from ₹135.97 crore, and net profit was ₹93.87 crore, down 7.4% from ₹101.42 crore.

Basic EPS for H1 FY27 was ₹2.86, compared with ₹15.44 in H1 FY26. The investor presentation said higher depreciation, increased finance costs and Dombivli Hospital's initial ramp-up losses weighed on first-half profitability.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹2,560.13 crore, up from ₹2,383.13 crore at 31 March 2026. Total equity was ₹1,630.53 crore against ₹1,544.09 crore, while borrowings rose to ₹588.80 crore from ₹508.53 crore. Cash declined to ₹45.14 crore from ₹54.76 crore.

Trade receivables increased to ₹118.30 crore from ₹75.54 crore, while inventories fell to ₹35.76 crore from ₹38.34 crore and trade payables fell to ₹65.13 crore from ₹95.54 crore. H1 FY27 operating cash flow was ₹136.21 crore, against ₹130.1 crore in H1 FY26.

Investing cash flow was negative ₹176.32 crore in H1 FY27, against negative ₹173.24 crore in H1 FY26, while financing cash flow was ₹28.36 crore against negative ₹23.18 crore. Capital expenditure was ₹292.93 crore, compared with ₹170.5 crore in the year-ago period.

How has Jupiter Life Line Hospitals done over the last 8 quarters?

Revenue rose year on year in each of the last eight quarters. It reached a period high of ₹456.5 crore in Q2 FY27, after falling from ₹393.63 crore in Q2 FY26 to ₹365.37 crore in Q3 FY26 and then rising to ₹410.98 crore in Q1 FY27.

Net profit recovered from its period low of ₹37.51 crore in Q1 FY27 to ₹56.36 crore in Q2 FY27, below the Q2 FY26 level of ₹57.48 crore. The EBITDA margin also recovered from 19.3% in Q1 FY27 to 23.4% in Q2 FY27, matching the Q2 FY26 level and remaining below the 24.0% reached in Q4 FY25.

What else did the company announce?

The Board approved the acquisition of about 11,452.07 square metres of land at Village Pune City (Bibvewadi), District Pune, for total consideration of ₹150 Crores. The company said the agreement concerned land currently leased for the Pune South hospital. Management said the earlier deposit would be adjusted against the consideration, limiting the incremental cash outflow to ₹100 cr.

The same-day board filing also recorded approval of the incorporation of a wholly owned subsidiary. No dividend, fund raise or appointment was disclosed in the cited same-day filings, while the investor presentation referred to a 2,900-bed expansion plan and active projects at Pune South, Mira Road and BKC.

What did Jupiter Life Line Hospitals' management say?

Management did not provide revenue, EBITDA, PAT or margin guidance. It retained its budgetary assumption that a new hospital takes about two years to reach EBITDA break-even and said Dombivli's position would be reconsidered after one to two quarters. The CEO said, “We have never given financial guidance, so I'll continue to refrain on that.”

Management said Dombivli recorded an EBITDA loss of ₹0.2 cr in Q2 FY27, compared with ₹9.5 cr in Q1 FY27, and attributed the improvement to a higher infectious-disease burden and increased occupancy. It said occupancy was in the mid-30s% and cautioned that the seasonal admissions may not represent the underlying run-rate.

Management said active expansion projects were Pune South, Mira Bhayandar and BKC, with project capex largely to be funded internally. It quantified maintenance capex at ₹10-20 crore per hospital unit annually as a four-to-five-year average, and said Indore bed additions were not planned over the next couple of quarters until occupancy reached the mid-60s.

The CEO said, “The board has currently mandated a self-imposed ceiling of 3x of EBITDA. We will not increase debt above that.” Management also said Q2 net debt was ₹170-odd cr, Dombivli transplants were expected in the next couple of quarters, radiation oncology in the next quarter, and cashless insurance empanelment typically takes about a year from operational readiness.

How did Jupiter Life Line Hospitals shares react?

The filing appeared after market hours. From the price when the filing appeared, the stock was up 0.6% after five minutes, down 1.0% after 15 minutes and down 1.5% after 30 minutes. On the reaction day, it closed 3.7% above the previous close of ₹243.05.

By the next day's close, the stock was up 5.1% from its pre-results close, and by the fifth session it was up 7.8% cumulatively from the same close. The Hospital industry median rose 1.4% on the reaction day, 3.3% by the next day's close and 3.8% by five sessions; Jupiter Life Line Hospitals exceeded those moves by 2.3 percentage points, 1.8 percentage points and 4.0 percentage points, respectively.

Past reaction-day moves were mixed: the stock was up 0.6% on 15 May 2026, down 2.2% on 7 February 2025, up 3.7% on 8 November 2024, up 0.2% on 9 August 2024 and up 3.4% on 10 May 2024.

How did other Hospital companies do?

Thirteen other Hospital companies had filed for the quarter by 4 November 2026. Their median revenue growth was 23.2%, compared with Jupiter Life Line Hospitals' revenue growth of 16.0%. Among the peers, four grew more slowly than Jupiter Life Line Hospitals and nine grew faster.

Profit was compared for 11 peers, of which nine reported higher profit. The peer figures therefore show that Jupiter Life Line Hospitals' revenue growth was below the industry median, while a majority of the companies with comparable profit disclosures reported year-on-year profit growth.