MUMBAI: Medi Assist reported a 14.3% rise in net profit to Rs 27.6 crore in Q1 FY27, even as margins narrowed, while operating revenue grew 24.1% year-on-year to Rs 236.5 crore.Reported PAT stood at Rs 27.6 crore with a margin of 11.2%, down 175 basis points, while adjusted PAT rose 8.2% to Rs 24.5 crore after excluding a one-time Rs 3.1 crore gain. EBITDA was Rs 48.0 crore, with margin at 20.3% compared with 22.0% a year earlier.The India business remained the main driver, with health PUM rising 26.8% to Rs 8,975 crore and group market share increasing 440 basis points to 37.6%. Technology revenue rose 55.5% to Rs 7.8 crore, accounting for 3.3% of total revenue and contributing positively to margins.According to Satish Gidugu, ceo and whole time director, the company is seeing early results from its technology and international investments while concluding integration of acquired operations. "Paramount integration is at its logical closure. Our AI stack has moved from investment to early monetisation with seven contracts in place, and Mayfair is now a structured international platform with a live Thailand deployment," he said.In the TPA segment, group revenue increased 25.5% to Rs 166.0 crore, while premium under management grew 29.5% to Rs 8,454 crore. Retention stood at 90.2%, reflecting transition effects after acquisitions. Retail revenue rose 13.1% to Rs 23.4 crore, and Govt business grew 35.3% to Rs 28.5 crore, covering around 31 crore members.The integration of Paramount reached an operational close, with over 95% of group claims and more than 80% of retail claims migrated to the MAtrix platform. Full migration is expected by Q2 FY27, with near-term retention pressures likely to normalise through the year.The company completed around Rs 24.5 crore of investment in its AI platforms over six quarters and has begun monetisation, with seven insurer contracts signed, including an outcomes-based agreement. Adoption of its platforms by insurers has increased, with large volumes processed and deployment expanding across networks.International operations were consolidated under Mayfair, where the company raised its stake to 91.8%. The first deployment in Thailand is live, although revenue declined 5.2% to Rs 10.1 crore due to moderation in student, leisure, and marine segments.The balance sheet remained debt-free, with free cash at Rs 245.5 crore. Net worth rose to Rs 884.1 crore, and contract liability increased to Rs 337.4 crore, indicating growth in advance collections.On governance, Vikram Jit Singh Chhatwal transitioned to non-executive, non-independent director and chairman, separating board oversight from management. Gaurav Bhatnagar was appointed chief TPA officer.The company said it is advancing its three-track strategy of scaling the India TPA business, monetising technology, and building international operations, with investments funded through internal cash flows and expected to support margin expansion over time.