During the period, the improvement in Lenskart’s operating performance led to net profit expanding 20% to Rs 103 crore. The company posted Rs 414 crore in Ebitda for the July-September quarter, which was 44% higher than Rs 287 crore it reported in the same period last year.
Almost 59% of Lenskart’s revenue came from its India operations, while the remaining came from its international markets, which include Singapore, Thailand, Japan and others.
The Gurugram-based company listed after a Rs 7,278-crore initial public offering (IPO), 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) 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,” Bansal added.
He noted that the company’s product margin was 69.2% in the second quarter of the ongoing financial year, compared to 68.7% in the same period last year.
“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,” he said, adding that centralising the international supply chain is a key focus area for Lenskart, which is expected to significantly contribute to future margin enhancement.
Proforma 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, which is the master franchise operator for its Indian retail outlets, which was followed by its acquisition of Spanish eyewear brand Meller on August 11 this year, and machine learning platform GeoIQ on September 30.
This illustrative — or proforma — 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 proforma basis, the company’s revenue growth came in at 24%, while its net profit increased 49% year-on-year.
The way forward
Looking forward, Bansal noted that the company is targeting over 450 net store additions in India for FY26, compared to 282 in FY25.
“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,” Bansal said.
The company stated that 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 the untapped towns and cities.
On the product development front, Lenskart said it will launch its AI-powered smartglasses ‘B by Lenskart’ in the January-March quarter of 2026. The company had earlier this month opened up its smartglass platform to developers to build products and services.
Under this initiative, Lenskart will make its artificial intelligence (AI) and camera technology available to consumer apps and platforms such as Zomato, Swiggy, BookMyShow, and more, along with Indian developers, to enable integration across categories.