Lenskart Reports 20% Increase in Q2 Profit Following IPO, Aims for 450+ New Store Openings
Newly public eyewear retailer Lenskart has reported impressive financial results for the first quarter of its public listing, showcasing a 21% increase in operating revenue year-on-year, reaching ₹2,096 crore for the period from July to September. The company’s net profit also saw a significant rise of 20%, amounting to ₹103 crore, while EBITDA surged by 44% to ₹414 crore compared to ₹287 crore in the same quarter last year. With India contributing nearly 59% of its revenue, Lenskart is poised for further growth following its recent IPO, which raised ₹2,150 crore in primary capital.
Strong Financial Performance
Lenskart’s financial results reflect a robust performance as a newly listed company. The operating revenue of ₹2,096 crore marks a notable 21% increase from the previous year. This growth is attributed to improved operating leverage, which also propelled the net profit to ₹103 crore, a 20% rise. The company’s EBITDA climbed to ₹414 crore, up from ₹287 crore a year earlier, indicating strong operational efficiency. Founder and CEO Peyush Bansal highlighted that Lenskart is entering a phase of compounding, driven by years of investment in technology, supply chain, and an omnichannel model. He noted that every additional rupee of revenue is contributing more to EBITDA than in the past, showcasing the effectiveness of their growth strategies.
Expansion Plans and Market Reach
Looking ahead, Lenskart has ambitious plans to expand its footprint in India, aiming to open over 450 new stores this fiscal year, a significant increase from the 282 stores opened in 2024-25. Bansal mentioned that while specific guidance is not provided, early performance metrics for the quarter indicate a stronger growth trajectory in both revenue and EBITDA. The company sees potential for thousands of additional outlets across existing and new markets, reflecting its confidence in sustained demand for its products. Lenskart’s international presence is also noteworthy, with revenue contributions from markets such as Singapore, Thailand, and Japan, further diversifying its revenue streams.
Product Innovations and Technology Integration
In addition to its financial growth, Lenskart is set to launch its AI-powered smart glasses, ‘B by Lenskart’, in the first quarter of 2026. This innovative product aims to integrate advanced technology into eyewear, enhancing user experience. Earlier this month, Lenskart opened its platform to developers, allowing popular services like Zomato, Swiggy, and BookMyShow, as well as Indian app developers, to incorporate its camera and AI technology. This move not only broadens the functionality of its products but also positions Lenskart at the forefront of technological advancements in the eyewear industry.
Focus on Manufacturing and Margins
Lenskart has reported an improvement in product margins, rising to 69.2% from 68.7% a year earlier. Bansal explained that the company’s scale provides significant negotiating power, allowing it to keep frame and lens costs 35-40% below the industry average. The company designs all its frames and lenses in-house, which contributes to higher margins. In the first half of FY26, Lenskart manufactured 3.9 million frames and 2.6 million lenses at its facilities, a figure that continues to grow. Centralizing the international supply chain remains a key focus area for Lenskart, which is expected to support future margin expansion and enhance overall profitability.
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