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Newly listed eyewear retailer Lenskart reported a 21% year-on-year increase in operating revenue to Rs 2,096 crore for July-September in its first quarterly results as a public company.
The improvement in operating performance led to a 20% increase in net profit to Rs 103 crore. The Gurgaon-based company reported earnings before interest, taxes, depreciation and amortisation (Ebitda) of Rs 414 crore for the second quarter of this financial year, 44% higher than Rs 287 crore a year ago.
Almost 59% of the revenue came from its India operations, with overseas markets such as Singapore, Thailand and Japan accounting for the rest.
The company debuted on the bourses on November 10 after a Rs 7,278-crore initial public offering, through which it raised Rs 2,150 crore in primary capital.
In a letter to the shareholders, the company’s founder and CEO Peyush Bansal said, “Lenskart is entering a phase of compounding. Years of investment in technology, supply chain, optometry, design and our omnichannel model are now generating strong operating leverage.”
“Every incremental rupee of revenue contributes more to Ebitda than last year, reflected in PAT (profit after tax) which has almost doubled year-on-year (on a half-yearly basis). Our technology-led manufacturing, disciplined store expansion and omnichannel approach are driving predictable store payback, strong unit economics and improving profitability,” he added.
The company’s product margin was 69.2% during the July-September period against 68.7% a year earlier.
“Our scale provides negotiating power, keeping frame and lens costs 35-40% below industry average. We design all our frames and lenses in-house. Furthermore, we manufactured 3.9 million frames and 2.6 million lenses at our own facilities in H1FY26 which continues to grow, resulting in higher margins,” Bansal said, adding that centralising the international supply chain is a key focus area, which is expected to significantly contribute to future margin enhancement.
Pro forma financials
Lenskart also shared an unaudited set of numbers showing how its results would look if the three companies it recently bought had been part of the business for the full reporting period.
On December 31, 2024, Lenskart acquired Dealskart, the master franchise operator for its Indian retail outlets, following it up with its acquisition of Spanish eyewear firm Meller on August 11 this year and of machine learning platform GeoIQ on September 30.
These illustrative – or pro forma – financial statements, which have been prepared to provide a like-for-like comparison, assume the acquisition of Dealskart effective from September 30, 2024, of Meller from April 1, 2025, and of GeoIQ from April 1, 2024.
On a pro forma basis, the company’s revenue growth came in at 24%, while its net profit increased 49% year-on-year.
The way forward
Looking forward, the company is targeting more than 450 net store additions in India during this fiscal, compared to 282 in 2024-25, Bansal said.
“While we do not provide specific guidance but since we are already two months into the quarter, we can share that our overall performance metrics through the end of November indicate a stronger growth trajectory across both revenue and Ebitda in Q3FY26,” he said.
The company said it has a significant store expansion runway ahead of itself and can potentially add “several thousand” outlets to its network across markets that it currently serves as well as untapped towns and cities.
On product development, Lenskart said it will launch its artificial intelligence (AI)-powered smart glasses ‘B by Lenskart’ in the January-March quarter of 2026. The company had earlier this month opened up its smart glass platform to developers to build products and services.
Under this initiative, Lenskart will make its AI and camera technology available to consumer apps and platforms such as Zomato, Swiggy and BookMyShow, along with Indian developers, to enable integration across categories.
The improvement in operating performance led to a 20% increase in net profit to Rs 103 crore. The Gurgaon-based company reported earnings before interest, taxes, depreciation and amortisation (Ebitda) of Rs 414 crore for the second quarter of this financial year, 44% higher than Rs 287 crore a year ago.
Almost 59% of the revenue came from its India operations, with overseas markets such as Singapore, Thailand and Japan accounting for the rest.
The company debuted on the bourses on November 10 after a Rs 7,278-crore initial public offering, through which it raised Rs 2,150 crore in primary capital.
In a letter to the shareholders, the company’s founder and CEO Peyush Bansal said, “Lenskart is entering a phase of compounding. Years of investment in technology, supply chain, optometry, design and our omnichannel model are now generating strong operating leverage.”
“Every incremental rupee of revenue contributes more to Ebitda than last year, reflected in PAT (profit after tax) which has almost doubled year-on-year (on a half-yearly basis). Our technology-led manufacturing, disciplined store expansion and omnichannel approach are driving predictable store payback, strong unit economics and improving profitability,” he added.
The company’s product margin was 69.2% during the July-September period against 68.7% a year earlier.
“Our scale provides negotiating power, keeping frame and lens costs 35-40% below industry average. We design all our frames and lenses in-house. Furthermore, we manufactured 3.9 million frames and 2.6 million lenses at our own facilities in H1FY26 which continues to grow, resulting in higher margins,” Bansal said, adding that centralising the international supply chain is a key focus area, which is expected to significantly contribute to future margin enhancement.
Pro forma financials
Lenskart also shared an unaudited set of numbers showing how its results would look if the three companies it recently bought had been part of the business for the full reporting period.
On December 31, 2024, Lenskart acquired Dealskart, the master franchise operator for its Indian retail outlets, following it up with its acquisition of Spanish eyewear firm Meller on August 11 this year and of machine learning platform GeoIQ on September 30.
These illustrative – or pro forma – financial statements, which have been prepared to provide a like-for-like comparison, assume the acquisition of Dealskart effective from September 30, 2024, of Meller from April 1, 2025, and of GeoIQ from April 1, 2024.
On a pro forma basis, the company’s revenue growth came in at 24%, while its net profit increased 49% year-on-year.
The way forward
Looking forward, the company is targeting more than 450 net store additions in India during this fiscal, compared to 282 in 2024-25, Bansal said.
“While we do not provide specific guidance but since we are already two months into the quarter, we can share that our overall performance metrics through the end of November indicate a stronger growth trajectory across both revenue and Ebitda in Q3FY26,” he said.
The company said it has a significant store expansion runway ahead of itself and can potentially add “several thousand” outlets to its network across markets that it currently serves as well as untapped towns and cities.
On product development, Lenskart said it will launch its artificial intelligence (AI)-powered smart glasses ‘B by Lenskart’ in the January-March quarter of 2026. The company had earlier this month opened up its smart glass platform to developers to build products and services.
Under this initiative, Lenskart will make its AI and camera technology available to consumer apps and platforms such as Zomato, Swiggy and BookMyShow, along with Indian developers, to enable integration across categories.
