Eyewear retailer Lenskart posted a nearly 20 per cent year-on-year jump in net profit for the September quarter, reaching ₹103.5 crore, up from ₹86.3 crore a year earlier. The firm had reported a ₹61.2 crore profit in the prior quarter, according to its regulatory filings.
In its first quarterly report since going public, the Gurugram-based company said revenue from operations climbed 21 per cent from a year earlier to ₹2,096 crore, compared with ₹1,735.7 crore in the same period last year. Revenue in the prior quarter totalled ₹1,894.5 crore.
Total expenses rose 18 per cent in the September quarter to ₹1,980.3 crore, up from ₹1,671 crore a year earlier and ₹1,836.6 crore in the previous quarter.
Lenskart’s consolidated segment data shows India remained the company’s primary growth engine, generating ₹1,230.6 crore in revenue for the September quarter, up from ₹1,169.2 crore in the June quarter and ₹1,088.8 crore a year earlier.
Its international business delivered ₹879.6 crore in revenue, compared with ₹736.5 crore in the prior quarter and ₹658.3 crore in the year-ago period.
“Our technology-led manufacturing, disciplined store expansion and omnichannel approach are driving predictable store payback, strong unit economics and improving profitability,” said Lenskart chief executive officer Peyush Bansal in a letter to shareholders.
$17.2 billion market
Lenskart expects India’s eyewear market to nearly double over the next five years, rising from $9.2 billion in FY25 to $17.2 billion by FY30, according to the shareholder letter. The company cites expanding eye-testing infrastructure, a growing base of first-time users and increasing demand for prescription eyewear across major cities and smaller markets as key drivers of the projected growth.
In the letter released with its second-quarter FY26 results, the company said it conducted 13 million eye tests in FY25, a steep climb from 5 million in FY23 — a two-year compound annual growth rate of about 63 per cent. In the first half of FY26 alone, it has already completed 9.3 million tests, topping the full-year FY24 tally of 8.6 million.
Lenskart said nearly half — 46 per cent — of the eye tests were for first-time users, highlighting the company’s view that it is creating new demand rather than capturing market share. Many customers are discovering the need for vision correction for the first time, driven by easier access to testing. The company’s bottom-up model estimates that 242 million pairs of eyewear were sold in India in FY25, with sales projected to climb to 389 million pairs by FY30. The total number of people requiring corrective eyewear is estimated at 943 million by that time.
Smart glasses race
Lenskart also said its “B by Lenskart Smart Glasses” will reach consumers by Q4 FY26, putting the eyewear retailer among a growing roster of companies betting on next-generation wearable technology.
“Our upcoming smart eyewear, ‘B by Lenskart Smart Glasses’, powered by AI and Snapdragon, is an effort to show that India can lead the next wave of consumer technology with products that are intelligent, personal and globally relevant,” said Bansal.
Similar to its vertically integrated model for prescription eyeglasses, Lenskart is deploying a full-stack approach in which it is designing the hardware, developing the software and mobile app in-house, powered by the Gemini AI platform. This complete control allows it to own the data ecosystem. The glasses are built on Qualcomm’s AR1 chip and are prescription-lens capable. The first version includes features such as UPI payments, health monitoring with food logging and recommendations, photo and video capture, real-time object scanning, translations and personalised recommendations. To rapidly expand functionality, the firm has invited developers to collaborate and build features for its B Smart glasses.
