Shares of Max Healthcare Institute fell nearly 6 per cent in early trade on Thursday after the hospital chain reported a modest rise in fourth-quarter profit and investors reacted to margin pressures despite steady operational growth and expansion plans. The stock dropped to a low of ₹1,028.20 on the NSE, making it one of the top losers in the Nifty 50 index.
The company reported a consolidated profit after tax of ₹387 crore for the quarter ended March 31, 2026, up 3 per cent y-o-y from ₹376 crore in the corresponding quarter last year. Gross revenue rose 10 per cent y-o-y to ₹2,664 crore during the quarter.
Operational metrics remained stable, with bed occupancy at 75 per cent and occupied bed days rising 8 per cent y-o-y. Average revenue per occupied bed stood at ₹77,900 in Q4 FY26 compared with ₹77,100 in the year-ago period, reflecting marginal improvement.
For FY26, network gross revenue came in at ₹10,538 crore, while profit after tax after exceptional items increased 22 per cent y-o-y to ₹1,631 crore from ₹1,336 crore in FY25.
The board recommended a final dividend of ₹2 per equity share for FY26 and also approved a ₹1,400 crore investment for a 712-bed greenfield hospital at Shaheed Path in Lucknow. The facility, spread across five acres, is expected to be commissioned in FY30 and will be the company’s second hospital in the city.