TL;DR
The diagnostic arm majority-owned by API Holdings (PharmEasy)-Thyrocare Technologies, posted a consolidated net profit of Rs. 51.33 crore for Q1 FY 27. It is up 34% year-on-year from Rs.38.29 crore, on the back of 24.4% revenue growth to Rs.240 crore.
Net profit of PharmEasy Thyrocare in Q1 FY 27, up 34% YoY from Rs.38.29 crore.
Revenue from operations Rs.240.02 crore, up 24.4% YoY and the total expenses is Rs.176.6 crore which is also up 19.8% YoY
Q1 FY 27 Financial Highlights- PharmEasy Thyrocare
Thyrocare’s unaudited consolidated results for the quarter ended June 30, 2026 show broad-based improvement across profitability and revenue metrics, with sequential growth also holding steady over
Metric | Q1FY 27 (Jun’26) | Q1 FY 26 (Jun’25) | YoY Change | Q4 FY 26 (Mar’26) | QoQ Change |
Revenue from Operations | Rs.240.02 Cr | Rs.193.03 Cr | +24.4% | Rs.223.95 Cr | +7.2% |
Net Profit (Consolidated) | Rs.51.33 Cr | Rs.38.29 Cr | +34.1% | Rs.48.70 Cr | +5.4% |
Profit Attributable to Owners | Rs.52.19 Cr | — | — | — | — |
Total Expenses | Rs.176.6 Cr | Rs.147.5 Cr | +19.8% | — | — |
EBITDA | Rs.77.27 Cr | ~Rs.57.6 Cr | +34% | — | — |
EBITDA Margin | 32.2% | 29.9% | — | 33.5% | — |
Basic EPS | Rs.3.23 | Rs.2.41 | +34% | Rs.2.99 | — |
Net Profit Margin | ~21.4% | ~19.4% | — | — | — |
Source: Unaudited Financial Report
Segment-Wise Performance
The Diagnostic testing service segment remained the primary growth engine for the quarter. But on the other hand, imaging services remain flat and small in scale.
Segment | Q1 FY 27 Revenue | Q1 FY 26 Revenue | YoY Growth | Q1 FY 27 Segment Result | Q1 FY 26 Segment Result |
Diagnostic Testing Services | 226.21 | 178.33 | +26.9% | 61.90 | 44.85 |
Imaging Services | 13.48 | 14.04 | -4.0% | 1.26 | 0.27 |
Others | 0.33 | 0.66 | -50.0% | 0.27 | 0.46 |
Total | 240.02 | 193.03 | +24.4% | 63.43 | 45.58 |
Diagnostic Testing: Revenue of Rs. 226.21 crore, up 26.9% YoY; segment profit of Rs.61.90 crore up ~38% YoY
Imaging Service: Revenue of Rs. 13.48 crore, a relatively weak contributor to the overall top-line.
Standalone Entity: Revenue of Rs. 225.66 crore (+26.1% YoY) and PAT of Rs. 50.17 crore. It shows no major divergence from consolidated figures.
Test Volumes: Total test volumes rose 28% YoY to 55.2 million and this supported the top-line expansion.
EPS and Equity Trend
Metric | Q1 FY 27 | Q4 FY 26 | Q1 FY 26 | FY 26 (Full Year) |
Basic EPS (Rs.) | 3.23 | 2.99 | 2.41 | 10.27 |
Diluted EPS (Rs.) | 3.22 | 2.98 | 2.40 | 10.24 |
Paid-up Equity Share Capital | Rs.159.17 Cr | Rs.159.17 Cr | Rs.52.99 Cr | Rs.159.17 Cr |
Other Equity | — | — | — | Rs.426.33 Cr |
Why Profit for PharmEasy-Owned Thyrocare Grew Faster?
Profit growth of 34% outpaced revenue growth which is just 24.4%. It is mainly because operating leverage kicked-in.
Revenue increased at a faster rate, although total expenses rose by only 19.8% year-over-year. This expansion elevated the EBITDA margin from 29.9% to 32.2%.
This increase in margin was propelled by stricter cost management and a more advantageous composition from the higher-margin Diagnostic Testing Segment, which grew at a rate surpassing that of the entire enterprise.
Sequential Quarter-on-Quarter Trends
In comparison to the preceding quarter, the growth momentum for Thyrocare held but moderated slightly. The revenue rose from 7.2% QoQ versus 24.4% YoY and profit grew QoQ to 5.4% versus 34.1% YoY.
The figures here exhibit a stronger base effect from Q1 FY 26, alongside genuine underlying business expansion.
Conclusion
Thyrocare’s Q1 FY 27 results reflect strong operational execution under PharmEasy’s ownership, with profit growth outpacing revenue growth thanks to margin expansion in its core diagnostic business.
The margin gain stems from genuine operating leverage, a 28% jump in test volumes and improved gross margins, rather than a one-off cost cut, while a shift towards high revenue per patient signals healthier, more sustainable growth through cross-selling.
Looks like management is also divesting the non-core imaging business while scaling specialty diagnostics like allergy testing and genomics.
FAQs
What is the net profit for Q1 FY 27 for Thyrocare?.
The quarter report concluded on June 30, 2026, the net profit was Rs.51.33 crore.
How big is Thyrocare’s sales growth in Q1 FY 27?
Revenue generated from operations rose to Rs.240.02 crore in Q1 FY 26
Which segment drove the growth for PharmEasy-driven Thyrocare?
Diagnostic testing service led the growth, with segment revenue rising 26.9% YoY.
Is Thyrocare still owned by PharmEasy?
Yes, Thyrocare continues to operate as a subsidiary under API Holding (PharmEasy’s parent entity) as of Q1FY 27.
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