Lenskart Q2 Profit Rises Nearly 20% to ₹103.4 Cr, Revenue Up 21%

Eyewear retailer Lenskart Solutions reported a 19.8% rise in consolidated profit after tax to ₹103.4 crore for the quarter ended September 30, 2025, up from ₹86.3 crore a year earlier, according to a regulatory filing.

The company’s product margin accruals grew 26% year-on-year to ₹1,485 crore, compared with ₹1,180.7 crore in the same quarter last year. Product margins improved to 69.2% from 68.1% in Q2 FY25.

Revenue from operations rose 21% to ₹2,096.14 crore from ₹1,735.68 crore in the corresponding period of 2024.

Alongside its statutory results, Lenskart also released pro forma financials—reflecting performance as if acquired businesses had been part of the company throughout the period. On this basis, profit jumped nearly 50% to ₹113 crore, and revenue increased 24% to ₹2,146.6 crore.

CEO Peeyush Bansal told shareholders that pro forma results offer a clearer view of underlying business trends. “They present the financials as if the acquired businesses had always been part of the company, resolving distortions in trend analysis,” he wrote.

Eye tests and eyewear sales—Lenskart’s two core verticals—grew 44.3% and 20.2%, respectively. The company conducted 13 million eye tests in FY25 and has already completed 9.3 million in the first half of FY26. Nearly 46% of these were first-time tests, a trend Bansal said highlights untapped demand rather than competitive churn.

Domestic revenue rose 22.2% to ₹1,232.9 crore, while international business grew 26.2% to ₹927.8 crore.

Bansal noted that India’s eyewear market, estimated at around USD 9.2 billion (₹78,000 crore) by Redseer Strategy Consultants, understates the true potential due to latent, untested demand. To support future growth, Lenskart is building a new manufacturing facility in Hyderabad with a design capacity of 50 million pairs annually—double that of its Bhiwadi plant.

Active transacting customers grew 23.2% year-on-year to 48 lakh, while the company ended the quarter with 2,949 active stores, including 2,270 in India. Lenskart plans to add more than 450 net new stores in FY26, a sharp increase from the 282 added in FY25.

Bansal said the company’s broad presence—averaging one store per pincode across its Indian network—positions it for a “decades-long expansion runway” as it deepens market penetration and builds out its global footprint.