Jupiter Life Line Hospitals (JLHL) Q2 25/26 earnings summary

Executive summary

• Celebrated two years since listing, with business growth aligning with pre-IPO plans and ongoing expansion in Western India, including new hospitals in Dombivli, South Pune, and Mira Road.

• All existing hospitals performed as expected, with Pune nearing maturity and Indore showing improved growth post-expansion.

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, were approved by the Board and reviewed by joint statutory auditors, who issued unmodified reports.

• The group is primarily engaged in healthcare services in India, with no other reportable segments as per Ind AS 108.

• Focus remains on operational strengths, clinical excellence, and patient-centric growth in Western India.

Financial highlights

• Q2 FY26 operating income was INR 374.4 crores, up 11.7% year-on-year; EBITDA reached INR 85.4 crores, up 9.3% year-on-year, with a margin of 22.8%.

• Q2 PAT was INR 57.4 crores, up 11% year-on-year, with a margin of 15.3%.

• H1 FY26 operating income was INR 727.4 crores, up 14.9% year-on-year; EBITDA was INR 163.8 crores, up 13.7% year-on-year, with a margin of 22.5%.

• Consolidated revenue from operations for Q2 FY26 was ₹3,936.29 million, up from ₹3,350.49 million in Q2 FY25; half-year revenue was ₹7,465.82 million, up from ₹6,329.34 million year-over-year.

• Consolidated net profit for Q2 FY26 was ₹574.77 million, compared to ₹518.36 million in Q2 FY25; half-year net profit was ₹1,014.22 million, up from ₹962.56 million year-over-year.

Outlook and guidance

• New hospitals are expected to be EBITDA negative in their first year and break even in the second year, leading to temporary margin dilution at the consolidated level.

• Dombivli hospital (500 beds) expected to be operational in Q1FY27; South Pune (500 beds) in CY28; Mira Bhayandar (400 beds) in CY29.

• Total bed capacity projected to increase from 1,061 to approximately 2,500 with upcoming projects.

• The company continues to focus on healthcare services as its core business, with no significant changes in segment reporting or business model.

• Dombivli Hospital is expected to reach EBITDA break-even by the second year, typically at 40-45% occupancy.