Healthcare major Aster DM Healthcare & QCIL reported strong combined Q3FY26 performance.

Revenue jumped 15% YoY to INR 2,366 Cr, with Operating EBITDA surging 22% YoY to INR 503 Cr (21% margin). Patient volumes grew 9% YoY to 1.97 Mn.

For the nine months, combined revenue was INR 6,913 Cr (up 13% YoY) and Op.

EBITDA INR 1,496 Cr (up 20% YoY). Oncology revenue for Aster also saw a healthy 27% YoY growth.

Growth drivers include the ongoing merger with QCIL, expected to complete in Q1FY27, promising 10-15% EBITDA upside from synergies across revenue, supply chain, and operations.

The company plans aggressive capacity expansion, adding 4,080+ beds to reach over 14,710+ beds, largely through brownfield projects.

Key strategic focus areas are optimizing existing facilities, enhancing efficiency, and leveraging digital platforms for patient engagement.

Recent developments include the new 263-bed MIMS Kasargod hospital starting operations with early traction, contributing to 560+ new beds added over the last year.

The NCLT-directed shareholders' meeting for the merger is set for Feb 27 – March 13.