STARHEALTH Star Health and Allied Insurance Company Q2 FY26 results (Jul–Sep 2025) and concall
Star Health delivered a robust H1 FY26 performance characterized by a strategic shift toward the high-margin retail segment (95% of book) and a successful exit from unprofitable group portfolios. While Q2 profitability was dampened by non-cash MTM losses on the investment book, core underwriting metrics showed marked improvement, with the combined ratio nearing break-even. Management is aggressively mitigating GST-related input tax credit losses by restructuring intermediary commissions and leveraging pharmacy cost savings.
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What they filed
Q2 FY26: revenue up 7.9%, net profit down 50.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|
| Revenue | 4,058 | 4,146 | 4,081 | 4,880 | 4,378 +8% |
| EBITDA | 147 | 285 | -7 | 588 | 75 −49% |
| Net profit | 111 | 215 | 1 | 438 | 55 −50% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
