Lenskart Q3 Results: Profit Jumps 238% to ₹132 Cr, Bansal Says 'Compounding Has Begun'

Lenskart Solutions on Wednesday reported strong results for the third quarter of FY26, posting a 37.4% year-on-year rise in revenue and a 237.9% jump in profit after tax (PAT).

The company said revenue growth was primarily driven by higher volumes and new customer additions.

In a letter to shareholders, CEO Peyush Bansal said, “ In Q2, we said we are entering a compounding phase. Q3 validates that decisively. Revenue grew 37.4% YoY. EBITDA grew 90.6%, more than twice the rate of revenue, with margins expanding from 14.5% to 20.0%. PAT tripled YoY. This is not cost-cutting. This is structural operating leverage. The compounding has begun!”

Lenskart Q3 in Detail

For Q3 FY26, revenue from operations stood at ₹2,307.7 crore, up 10.09% quarter on quarter from ₹2,096.1 crore. Total expenses for the quarter rose 27.9% year on year to ₹2,162.6 crore. EBITDA increased 90.6% year on year to ₹462.4 crore, while PAT came in at ₹132.7 crore.

India reported 27.8% same-store sales growth (SSSG) and 35.8% same-store performance growth (SPSG) in Q3, reflecting strong store-level performance and expansion through densification with limited cannibalisation.

International EBITDA margins improved to 18.4% in the first nine months of FY26, compared to 15.7% a year earlier, tracking ahead of India at a comparable stage. The company attributed this to higher product margins and disciplined execution.

Operational Highlights

Operationally, Lenskart conducted 6.3 million eye tests during the quarter, up 54% year on year.

In India, eye tests grew 60% to 5.5 million, with nearly 49% being first-time eye exams, indicating sustained market expansion rather than mere customer redistribution. Volume grew 29.7% year on year in Q3, supported by aggressive expansion of eye-testing infrastructure and highlighting significant untapped demand for vision correction.

The company added 195 net new stores during the quarter, compared to 81 in Q3 FY25, including 169 in India and 26 internationally. This took net additions in FY26 year-to-date to 420 stores, versus 193 in the same period last year.

Store site selection was guided by its GeoIQ algorithm to optimise catchment areas and reduce cannibalisation. Revenue per new store in India grew at a 15% CAGR from FY24 to the first nine months of FY26, reflecting improved throughput and consistent performance, particularly in Tier 2 and smaller markets.

Customer metrics also strengthened. Net Promoter Score (NPS) in India reached a record 80.9, supported by AI-enabled personalisation across the customer journey.

Gold membership rose to 8.1 million active members by the end of Q3, an increase of 0.7 million during the quarter. Notably, 37% of Q3 sales came from Gold members acquired before the quarter, underscoring retention-led growth.