Eyewear company Lenskart Solutions has reported a 19.8% jump in consolidated profit after tax to ₹103.4 crore in the second quarter ended September 30, 2025, a company filing said on Saturday.
The company had recorded a profit after tax of ₹86.3 crore in the same period a year ago.
Lenskart posted a 26% year-on-year increase in product margin accruals in the reported quarter to ₹1,485 crore, from ₹1,180.7 crore.
31 October 2025
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The product margin during the September quarter was up 69.2%, from 68.1% in the September 2024 quarter.
Lenskart has posted a 21% jump in the consolidated revenue from operations to ₹2,096.14 crore during the reported quarter, from ₹1,735.68 crore in the September 2024 quarter.
Lenskart has also published a pro forma financial report, a forward-looking estimate, showing the company's profit increased by almost 50% to ₹113 crore during the reported quarter, from ₹ 75.6 crore in the September 2024 quarter.
Revenue from operations, as per the pro forma financial statements, jumped 24% to ₹2,146.6 crore from ₹1,732.6 crore in the September 2024 quarter.
Lenskart CEO Peeyush Bansal, in a letter to shareholders, said that the reported financial statements reflect acquisitions as of their respective transaction closing dates, which may not provide a clear picture of business trends.
"Pro forma financial statements present the financials as if the acquired businesses had always been part of the company and hence represent a clearer business trajectory, resolving distortions in the trend analysis basis Reported financials," he said.
Lenskart's two key business verticals — eye tests and eyewear sales — grew by 44.3% and 20.2%, respectively, year on year.
"The foundation of our market thesis is our eye-testing infrastructure. In FY25, we conducted 13 million eye tests, up from 5 million just two years ago, representing a 63% CAGR. H1 FY26 has already reached 9.3 million tests: more than what we did in the whole year of FY'24," Bansal said.
He said 46% of the eye tests were first-time eye tests.
"This statistic is central to our market view. Nearly half of the people we test have never had their eyes examined. They are not switching from competitors; they are discovering the need for vision correction for the first time, because we made testing accessible. This represents new demand creation, not market share capture," Bansal said.
Revenue from Lenskart's India operations grew by 22.2% to ₹1,232.9 crore during the reported quarter, from ₹1,171.5 crore in the pro forma report.
International revenue of Lenskart grew by 26.2% year on year to ₹927.8 crore, from ₹871.9 crore.
According to market research firm Redseer Strategy Consultants, India's eyewear market is estimated at around $9.2 billion, or about ₹78,000 crore.
Bansal said the current market size of $9 billion understates the opportunity because it only captures existing behaviour, not latent demand.
He said the company is in the process of setting up a manufacturing facility in Hyderabad.
"The Hyderabad facility is still 18-24 months away, during which utilization of the current plant will continue to increase. The new Hyderabad facility's civil infrastructure is future-proofed with a design capacity of 50 million pairs per year (approximately twice the capacity of the current Bhiwadi facility) to support long-term global expansion," Bansal said.
The active transacting customer accounts during the quarter grew by 23.2% to 48 lakh from 39 lakh on a year-on-year basis.
Lenskart is reported to have 2,949 active stores, including 2,270 stores in India, at the end of the September 2025 quarter.
"Today, we average approximately one store per pincode across our 2,270-store network. We are talking about decades-long expansion runway. While the long-term opportunity is vast, our near-term execution is clear and disciplined. For FY26, we are targeting over 450 net store additions, a 60% increase from the 282 stores added in FY'25," Bansal said.
