Narayana Health posted its highest-ever quarterly revenue in Q4FY26, powered by the integration of its UK business and strong growth in India.

Narayana Health reported its highest-ever quarterly revenue in the January-March (Q4FY26) quarter, aided by the integration of its newly acquired UK business and steady growth across India, although margins remained under pressure on a year-on-year (YoY) basis.

The hospital chain posted consolidated revenue of ₹2,594 crore in Q4FY26, up nearly 76% from a year earlier and over 20% sequentially. Narayana Health's net profit rose over 16% YoY to ₹228 crore, while EBITDA increased more than 40% to ₹539 crore.

However, EBITDA margins declined to nearly 21% from a little over 26% a year ago. Margins improved sequentially from 18.2% in the December quarter.

For the full year, revenue climbed 42% to ₹7,806 crore, while profit rose marginally to ₹810.5 crore from ₹790 crore in FY25. Annual EBITDA margins fell to 22% from 25%.

India operations, which remain the company’s largest business, recorded their highest-ever quarterly revenue and profitability, supported by strong domestic demand and higher-value procedures. India revenue rose 12.8% year-on-year to ₹1,250.5 crore in Q4.

The UK business contributed ₹809 crore in quarterly revenue and ₹1,299 crore during FY26, completing two quarters within Narayana Health after the acquisition.

The company said integration of the UK operations is ongoing and expressed confidence of meeting expectations in FY27.

Narayana Health is also expanding capacity, targeting 7,600 beds by FY30. It currently operates 20 healthcare facilities with 5,451 operational beds and plans to add hospitals in Bengaluru, Raipur and Kolkata.

Net debt stood at ₹2,239.7 crore at the end of FY26, with a net debt-to-equity ratio of 0.49.

Commenting on the performance, Dr Emmanuel Rupert, Managing Director and Group CEO, Narayana Hrudayalaya Ltd, said “FY26 marked an important milestone in the company’s journey with the successful acquisition of the hospital business of Practice Plus Group in November 2025. By the close of the financial year, the acquired entity had completed close to two quarters within NH, and integration is progressing in line with management expectations.

We are pleased to report the highest-ever revenue at the Group level in the fourth quarter with all our geographies performing well. The India business saw positive outcomes from its domestic focus, transformation initiatives, high value procedures, and efficient usage of technology, delivering highest ever revenue and profitability for the quarter…

Our Cayman business delivered another year of robust performance and benefitted from the addition of Health City Caymen Bay and sustained demand across specialties. One Health Cayman, our integrated health insurance platform, continues to further strengthen patient access and affordability within the ecosystem.”

Q4 results | Narayana Health hits record revenue aided by UK acquisition