Lenskart Sees Profits Skyrocket with Global Expansion

Lenskart's profits surged to Rs 132.7 crore in Q3, driven by margin growth, new customers, and international market successes. Revenue grew 38%, with significant gains in both domestic and foreign segments. Expansion includes 705 international stores and impressive advancements in technology-aided operations.

Lenskart has reported a significant increase in consolidated profit after tax, reaching Rs 132.7 crore in the December quarter, a substantial rise fueled by enhanced margins, new customer acquisitions, and favorable outcomes in international business segments, the company announced on Wednesday.

The company's revenue climbed 38% to Rs 2,308 crore for the quarter, a robust improvement from Rs 1,669 crore in the same period in the previous year. This growth was mainly driven by volume expansion and new customer additions, with a 40.4% rise in India and a 32.7% uptick overseas.

Lenskart CEO Peyush Bansal highlighted the international division's profitability, noting superior performance with fewer stores, while India achieved a notable 28% growth in same-store sales during the quarter. The firm converted loans to loss-making subsidiaries into equity amid continued expansion and market penetration.

(With inputs from agencies.)