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Medi Assist Healthcare Services Q2 FY27 results: net profit up 167.4% to ₹21.58 crore, revenue up 3.9%
Medi Assist Healthcare Services Limited reported consolidated Q2 FY27 revenue of ₹241.51 crore, up 3.9% from a year earlier, and a net profit of ₹21.58 crore against ₹8.07 crore in Q2 FY26. EBITDA rose 23.9% to ₹49.23 crore and the margin widened 3.3 percentage points to 20.4%, while sequential profit was lower than Q1 FY27.
Key points
- Consolidated Q2 FY27 revenue was ₹241.51 crore, up 3.9% from ₹232.54 crore in Q2 FY26.
- EBITDA was ₹49.23 crore in Q2 FY27, up 23.9% from ₹39.72 crore, with margin rising to 20.4% from 17.1%.
- Net profit was ₹21.58 crore against ₹8.07 crore in Q2 FY26, while basic EPS rose to ₹2.88 from ₹1.13.
- Against Q1 FY27, revenue rose 2.1%, but net profit fell 21.8% and basic EPS declined 22.4% to ₹2.88.
- H1 FY27 revenue was ₹478.03 crore, up 13.0%, while net profit rose 60.2% to ₹49.17 crore and basic EPS increased to ₹6.59 from ₹4.3.
How did Medi Assist Healthcare Services perform in Q2 FY27?
Medi Assist Healthcare Services reported consolidated revenue of ₹241.51 crore for Q2 FY27, up 3.9% from ₹232.54 crore in Q2 FY26. EBITDA rose 23.9% to ₹49.23 crore from ₹39.72 crore, and the margin widened 3.3 percentage points to 20.4%. Profit before tax was ₹29.73 crore against ₹13.47 crore.
Net profit for the quarter was ₹21.58 crore, compared with ₹8.07 crore in the year-ago quarter, and basic EPS was ₹2.88 against ₹1.13. Sequentially, revenue was 2.1% higher than Q1 FY27's ₹236.52 crore and EBITDA rose 2.5%, but profit before tax fell 14.8% and net profit declined 21.8%. Basic EPS was down 22.4% from ₹3.71.
On the standalone basis, the company reported revenue of ₹62.25 crore, up 2.5%, and a net profit of ₹13.88 crore, compared with ₹17.64 crore in the year-ago quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 241.51 | 236.52 | 232.54 | +3.9% | +2.1% |
| Other income | 3.85 | 10.50 | 2.27 | +69.6% | −63.3% |
| Total expenses | 215.63 | 212.11 | 221.35 | −2.6% | +1.7% |
| EBITDA | 49.23 | 48.02 | 39.72 | +23.9% | +2.5% |
| EBITDA margin | 20.4% | 20.3% | 17.1% | +3.3 pp | +0.1 pp |
| Profit before tax | 29.73 | 34.91 | 13.47 | +120.7% | −14.8% |
| Tax | 8.16 | 7.31 | 5.40 | +51.1% | +11.6% |
| Net profit | 21.58 | 27.60 | 8.07 | +167.4% | −21.8% |
| EPS (₹) | 2.88 | 3.71 | 1.13 | +154.9% | −22.4% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Medi Assist Healthcare Services' costs and profit?
Total expenses were ₹215.63 crore in Q2 FY27, down ₹5.72 crore or 2.6% from ₹221.35 crore in Q2 FY26. Employee cost fell ₹1.86 crore to ₹103.59 crore, while finance costs declined ₹6.03 crore to ₹1.56 crore. Depreciation rose ₹0.86 crore to ₹21.79 crore and other expenses increased ₹1.31 crore to ₹88.69 crore.
Other income rose ₹1.58 crore to ₹3.85 crore from ₹2.27 crore in the year-ago quarter. There was no exceptional item. Tax expense increased ₹2.76 crore to ₹8.16 crore from ₹5.40 crore. EBITDA rose ₹9.51 crore to ₹49.23 crore, profit before tax increased ₹16.26 crore to ₹29.73 crore, and net profit rose ₹13.51 crore to ₹21.58 crore.
Against Q1 FY27, total expenses rose ₹3.52 crore to ₹215.63 crore and other income fell ₹6.65 crore to ₹3.85 crore. Tax expense increased ₹0.85 crore to ₹8.16 crore, while EBITDA rose ₹1.21 crore to ₹49.23 crore and the margin increased 0.1 percentage points to 20.4%. Net profit fell ₹6.02 crore to ₹21.58 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 103.59 | 105.45 | −1.86 | −1.8% |
| Finance costs | 1.56 | 7.59 | −6.03 | −79.4% |
| Depreciation | 21.79 | 20.93 | +0.86 | +4.1% |
| Other expenses | 88.69 | 87.38 | +1.31 | +1.5% |
| Total expenses | 215.63 | 221.35 | −5.72 | −2.6% |
| Other income | 3.85 | 2.27 | +1.58 | +69.6% |
| Tax | 8.16 | 5.40 | +2.76 | +51.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue rose 13.0% to ₹478.03 crore from ₹423.1 crore in H1 FY26. Total income increased 13.8% to ₹492.38 crore from ₹432.77 crore, while profit before tax rose 47.0% to ₹64.64 crore.
H1 FY27 net profit was ₹49.17 crore, up 60.2% from ₹30.7 crore in H1 FY26. Basic EPS increased 53.3% to ₹6.59 from ₹4.3. The result covered the quarter and half year ended 30 September 2026 and remained unaudited.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 478.03 | 423.10 | +13.0% |
| Profit before tax | 64.64 | 43.98 | +47.0% |
| Net profit | 49.17 | 30.70 | +60.2% |
| EPS (₹) | 6.59 | 4.30 | +53.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹1,441.46 crore on 30 September 2026, compared with ₹1,372.46 crore on 31 March 2026. Total equity rose to ₹886.77 crore from ₹852.4 crore, while cash declined to ₹50.3 crore from ₹54.63 crore. The company reported no borrowings, and trade receivables rose to ₹358.92 crore from ₹286.68 crore.
H1 FY27 operating cash flow was ₹40.15 crore, compared with an outflow of ₹13.05 crore in H1 FY26. Investing cash flow was an outflow of ₹28.86 crore against an outflow of ₹88.39 crore, while financing cash flow was an outflow of ₹17.04 crore against an inflow of ₹73.57 crore. Capital expenditure was ₹15.3 crore, compared with ₹26.74 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,441 | 1,372 |
| Total equity | 886.77 | 852.40 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 50.30 | 54.63 |
| Inventories | 0 | 0 |
| Trade receivables | 358.92 | 286.68 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 40.15 | −13.05 |
| Cash from investing | −28.86 | −88.39 |
| Cash from financing | −17.04 | 73.57 |
| Capital expenditure | 15.30 | 26.74 |
Source: Company's results filing (XBRL).
How has Medi Assist Healthcare Services done over the last 8 quarters?
Revenue has increased year on year in each of the last eight quarters. It reached ₹241.99 crore in Q4 FY26 before easing to ₹236.52 crore in Q1 FY27 and rising to ₹241.51 crore in Q2 FY27. Profit has increased year on year in each of the last three quarters.
Quarterly profit has been more volatile than revenue, ranging from ₹4.14 crore in Q3 FY26 to ₹54.48 crore in Q4 FY26. It fell to ₹27.6 crore in Q1 FY27 and ₹21.58 crore in Q2 FY27. The EBITDA margin rose to 20.4% in Q2 FY27 from 17.1% in Q2 FY26.
What else did the company announce?
The board approved a proportionate buyback of up to 11,59,199 fully paid-up equity shares at INR 425 per share, for an amount not exceeding INR 49,26,59,575. The proposal represents 1.55% of the paid-up equity share capital and will follow the tender offer route using the stock exchange mechanism.
The company fixed 20 November 2026 as the record date for shareholders eligible to participate in the buyback. It constituted a Buyback Committee, appointed Company Secretary Rashmi BV as compliance officer, and noted that the promoter and promoter group do not intend to participate. No dividend or fund-raising decision was disclosed in the same-day filings.
What did the auditors point out?
The independent auditors drew attention to Note 7, which states that a search and seizure operation was carried out by the Directorate of Enforcement at certain offices of a wholly owned subsidiary and describes management’s assessment of its consequent impact on the financial statements. The auditors said: “Our conclusion is not modified in respect of this matter.”
The review covered the consolidated unaudited results for the quarter and the period from 1 April 2026 to 30 September 2026 under Standard on Review Engagements 2410. The auditors said that nothing had come to their attention causing them to believe that the statement had not disclosed the required information or contained a material misstatement. The report stated that a review is substantially less in scope than an audit and that no audit opinion was expressed.
What did Medi Assist Healthcare Services' management say?
Management expects the group retention rate to recover from 90.5% to 93-94% within three to four quarters. It expects medium-term group same-store growth of 8-9%, with potential for 9-10% supported by GST input-tax-credit benefits and benefit expansion, and a steady-state core EBITDA margin of 22-23%. No formal revenue forecast was provided.
Management identified Paramount churn and the prior cyber incident as risks that could delay retention normalisation. It also cited weakness in IT-ITeS headcount, 1/365 revenue recognition, insurer EOM reform, and dependence on insurer implementation for retail and technology add-on monetisation. From FY27, management plans to return about 50% of cumulative adjusted free cash flow through dividends and buybacks over rolling five-year periods.
How did Medi Assist Healthcare Services shares react?
The results were released after market. From the price when the filing appeared, the stock fell 2.7% after five minutes, 4.2% after 15 minutes and 3.7% after 30 minutes. It closed 0.2% lower on the reaction day from the previous close and was down 1.9% by the next day's close, measured cumulatively from the pre-results close.
Earlier reaction-day moves were mixed: the stock fell 3.4% on 8 August 2026, rose 2.4% on 9 May 2026 and 3.2% on 6 February 2026, then fell 7.4% on 5 November 2025, 1.2% on 7 August 2025, 4.4% on 15 May 2025, 1.2% on 5 February 2025 and 1.9% on 14 November 2024.
| After the filing | Stock | Insurance median |
|---|---|---|
| 5 minutes | −2.7% | |
| 15 minutes | −4.2% | |
| 30 minutes | −3.7% | |
| Reaction day | −0.2% | −0.4% |
| Next day | −1.9% | −0.3% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 8 August 2026 | −3.4% |
| 9 May 2026 | +2.4% |
| 6 February 2026 | +3.2% |
| 5 November 2025 | −7.4% |
| 7 August 2025 | −1.2% |
| 15 May 2025 | −4.4% |
| 5 February 2025 | −1.2% |
| 14 November 2024 | −1.9% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Medi Assist Healthcare Services' revenue in Q2 FY27?
Revenue from operations was ₹241.51 crore, up 3.9% from ₹232.54 crore in Q2 FY26 (consolidated).
Did Medi Assist Healthcare Services make a profit in Q2 FY27?
Yes. Net profit was ₹21.58 crore, against a net profit of ₹8.07 crore in Q2 FY26.
What was Medi Assist Healthcare Services' EPS in Q2 FY27?
Basic earnings per share were ₹2.88, against ₹1.13 in Q2 FY26.
How did Medi Assist Healthcare Services shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.2% from the previous close; the median Insurance stock moved −0.4%.
When did Medi Assist Healthcare Services announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of Board Meeting (BSE, 27 October 2026) · PDF
- Results-Unaudited Financial Results For The Quarter & Half Year Ended September 30, 2026 (BSE, 30 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 30 October 2026) · PDF
- The earnings call (6 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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