Nephrocare Health Services Delivers Strong Q1 FY27 Performance: Adjusted PAT Surges 41.7% to ₹36.8 Crore

Nephrocare Health Services Limited, Asia's largest dialysis network operating under the brand "NephroPlus," has announced its consolidated financial results for the first quarter ended June 30, 2026. Headquartered in Hyderabad, the healthcare provider reported robust double-digit top-line growth and margin expansion across both year-on-year and quarter-on-quarter periods, underpinned by volume expansion in treatments and higher realizations per procedure.

Financial Performance Highlights

For Q1 FY27, Nephrocare Health Services reported consolidated revenue from operations of ₹281.8 crore, representing a 23.7% year-on-year growth compared to ₹227.8 crore recorded in Q1 FY26. Sequentially, top-line revenue expanded by 6.1% over the ₹265.6 crore registered in Q4 FY26.

Operational profitability saw significant expansion due to continued operating leverage:

Adjusted EBITDA: Stood at ₹65.1 crore for Q1 FY27, up 30.7% year-on-year from ₹49.8 crore in Q1 FY26 and up 17.5% quarter-on-quarter from ₹55.4 crore in Q4 FY26. EBITDA metrics are adjusted for ESOP expenses of ₹1.3 crore in Q1 FY27, ₹2.3 crore in Q1 FY26, and ₹1.7 crore in Q4 FY26, as well as Saudi expenses.

Adjusted EBITDA Margin: Expanded by 120 basis points year-on-year to reach 23.1%, up from 21.9% in Q1 FY26. Sequentially, the margin improved by 220 basis points over the 20.9% reported in Q4 FY26.

Adjusted Profit After Tax (PAT): Surged 41.7% year-on-year to ₹36.8 crore compared to ₹26.0 crore in Q1 FY26. Sequentially, Adjusted PAT grew 4.7% over ₹35.1 crore in Q4 FY26. PAT figures are adjusted for share of loss from JV of ₹3.6 crore and ESOP expenses of ₹1.3 crore in Q1 FY27; ESOP expenses of ₹2.3 crore in Q1 FY26; and share of loss from JV of ₹3.1 crore and ESOP expenses of ₹1.7 crore in Q4 FY26.

Adjusted PAT Margin: Expanded to 13.1% in Q1 FY27 from 11.4% in Q1 FY26, remaining stable compared to 13.2% in Q4 FY26.

Robust Operational Trajectory

The company's strong top-line and margin progression during the quarter was anchored by steady volume growth across its dialysis care network alongside improvements in realization metrics:

Treatments Administered: Crossed the 10-lakh milestone in a single quarter, reaching 10,31,084 treatments in Q1 FY27. This represents a 13.3% increase compared to 9,09,860 treatments in Q1 FY26 and a 3.5% sequential increase over 9,96,074 treatments in Q4 FY26.

Guest Base: Total network guests served expanded by 13.0% year-on-year to 38,262 in Q1 FY27, up from 33,868 in Q1 FY26 and 36,981 in Q4 FY26 (a 3.5% QoQ increase).

Revenue Per Treatment (RPT): Improved by 9.2% year-on-year to ₹2,733 in Q1 FY27, compared to ₹2,503 in Q1 FY26 and ₹2,667 in Q4 FY26 (a 5.2% QoQ gain).

Source : Equity Bulls

Keywords

NephrocareHealthServices NephroPlus Q1FY27 Q1FY2027 ResultUpdate