Medi Assist Healthcare shares surge 7% as Q2 profit doubles; board approves buyback

Shares of Medi Assist Healthcare Services rallied over 7% in intraday trade on Monday after the Bengaluru-based healthtech and insurtech company reported its September-quarter earnings and announced a share buyback of up to ₹49.3 crore.

The Medi Assist shares climbed as much as 7.2% to hit an intraday high of ₹318.20 in early trade on the BSE. At the time of reporting, the insurtech stock was trading 1.1% higher at ₹300.05, paring most of its early gains, with a market capitalisation of around ₹2,241 crore.

In an exchange filing, the company said its board had approved a buyback of shares worth up to ₹49.3 crore, to be funded entirely through internal operating cash flows. Medi Assist said the buyback would utilise less than a fifth of its accumulated cash reserves, with the objective of improving return on equity (RoE) while retaining sufficient liquidity for product development and international expansion.

Medi Assist Q2 profit doubles, revenue up 4.5%

On a consolidated basis, Medi Assist reported total income of ₹245.4 crore in Q2 FY27, up 4.5% year-on-year (YoY), while operating revenue rose 3.9% to ₹241.5 crore. EBITDA increased 23.9% to ₹49.2 crore, with the operating margin expanding 331 basis points to 20.4%.

Reported profit after tax (PAT) surged 167.5% YoY to ₹21.6 crore, while PAT margin improved 536 basis points to 8.8%, as per the exchange filing.

For the first half of FY27, operating revenue increased 13% YoY to ₹478 crore, while operating EBITDA grew 19% to ₹97.2 crore. EBITDA margin expanded 103 basis points to 20.3%. Profit before tax rose 47%, while the company's underlying PAT, excluding a derivative gain of ₹3.1 crore on a call/put option classified as exceptional, increased to ₹46.1 crore from ₹30.7 crore in H1 FY26.

Total premiums under management across its platform and third-party administrator (TPA) operations stood at ₹24,752 crore during H1 FY27. The company reported 13.7% growth in group revenue and remained debt-free, with cash and cash equivalents of ₹268.3 crore at the end of the period.

Paramount fully integrated, says CEO

“Medi Assist is advancing access, accountability and affordability in healthcare. Insurer adoption of our technology, key government mandates and Mayfair’s international expansion reinforce our growth momentum and commitment to reliable, transparent service,” said Satish Gidugu, CEO and Whole Time Director.

He added that with Paramount fully integrated, the company's core platform was generating strong cash flows to fund growth. The board-approved buyback, he said, reflected disciplined capital allocation and confidence in long-term earnings while preserving liquidity for investment.

Medi Assist's group health benefits market share increased to 34.1%, up 182 basis points YoY, while client retention stood at 90.5%. Group premiums under management rose 21.8% to ₹13,939 crore in H1 FY27, outpacing industry growth by 650 basis points.

Technology monetisation also gathered pace. SaaS and licensing revenue grew 112.6% in Q2 FY27, while H1 revenue from the segment increased 83.8% to ₹18.1 crore. Three of the seven insurers contracted to use the company's technology stack are fully live, with the remaining four scheduled to go live in the second half of FY27.

The company said its MAven Guard platform identified and prevented ₹304 crore in fraud, waste and abuse. Its international subsidiary, Mayfair We Care, reported Q2 revenue of ₹10.7 crore, up 7.7% YoY, while H1 revenue stood at ₹20.7 crore, up 1.1%. It has also completed platform go-lives in Thailand, Laos and Cambodia.