GPT Healthcare Q1 FY27 Results (NSE: GPTHEALTH)
Signal: Margin expansion
The read
Margin inflection: EBITDA margin expanded 310bps YoY to 20.8% as revenue growth outpaced fixed cost growth, driving PAT up 65.8% YoY; QoQ PAT dip due to tax normalisation, not operational weakness.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹126.2 Cr | +17.8% | -0.1% |
| EBIT | ₹19.33 Cr | +51.6% | |
| Net profit | ₹12.73 Cr | +65.8% | |
| EPS | ₹1.55 | +64.9% | |
| EBIT margin | 20.8% |
P&L walk
P&L shows strong YoY profit growth driven by EBITDA margin expansion of 310bps on revenue growth of 17.8%, with employee and other expenses growing slower, indicating operating leverage; QoQ PAT decline due to tax rate normalisation.
Key positives
- EBITDA margin expanded 310bps YoY to 20.8% on operating leverage.
- Revenue grew 17.8% YoY, indicating robust healthcare demand.
- PAT surged 65.8% YoY to ₹12.73 Cr.
- Gross margin remained healthy at 80.9%, stable YoY.
- No exceptional items or auditor qualification.
Key concerns
- QoQ PAT declined 12.6% due to tax normalisation (tax rate 25.8% vs 8.2% in Q4).
- Finance costs grew 32.5% YoY, faster than revenue, implying increased debt.
- Employee cost as % of revenue rose QoQ (18.41% vs 17.58%), though lower YoY.
Research and educational content only. Not investment advice.