Yatharth Hospital & Trauma Care Services (YATHARTH) Q3 24/25 earnings summary

Executive summary

• Achieved 32% YoY revenue growth to INR 6,487 million for 9M FY25, with EBITDA up 22% and PAT up 21% YoY, driven by super-specialty expansion and successful integration of new hospitals.

• Q3 FY25 revenue grew 31% YoY to INR 2,192 million; EBITDA up 18% YoY; PAT up 3% YoY.

• Completed payments for two new hospital acquisitions in New Delhi and Faridabad, adding 700 beds, with operationalization targeted for Q1 FY26.

• Focused on advanced medical equipment, robotics, and attracting top specialists, enhancing clinical capabilities and reputation.

• Successfully raised INR 6,250 million via QIP to fund acquisitions, expansion, and debt repayment.

Financial highlights

• Q3 FY25 consolidated revenue reached INR 2,192 million, up 31% YoY; nine-month revenue at INR 6,487 million, up 32% YoY.

• EBITDA for Q3 was INR 549 million, up 18% YoY; nine-month EBITDA at INR 1,632 million, up 22% YoY.

• Q3 EBITDA margin at 25.1% (down from 27.8% YoY); nine-month EBITDA margin at 25.2% (down 192bps YoY).

• Net profit for Q3 was INR 305 million, up 3% YoY; nine-month profit at INR 911 million, up 21% YoY.

• ARPOB for nine months FY25 was INR 30,614, with Noida Extension at INR 37,608 (+12% YoY) and Greater Noida at INR 34,584 (+21% YoY).

Outlook and guidance

• Sustained 10% YoY ARPOB growth expected, driven by super-specialty and oncology expansion.

• New Delhi and Faridabad hospitals to be operational from Q1 FY26, with break-even expected in 18-24 months and payback in 4-5 years.

• EBITDA margins expected to remain stable as new hospitals ramp up and existing units contribute higher margins.

• Revenue growth of 20%+ YoY targeted for FY2026, supported by capacity expansion from 1,600 to 2,300 beds.

• Strategic focus on optimizing infrastructure, leveraging technology, and attracting top clinical talent.