Eyewear retailer Lenskart’s profit rose more than three-fold in the December quarter, driven by robust sales of eyewear, particularly to new customers. Net profit for the quarter rose 237% year-on-year to Rs 132.7 crore, while revenue from operations jumped 37% to Rs 2,307 crore. 

The company sold nearly nine million eyewear units in Q3, 30% more than the same period last year, as it aggressively expanded its eye-testing services. In its largest market, India, Lenskart conducted 5.5 million eye tests in the quarter, 60% more than a year ago.

As a result, India saw strong same-store sales growth of 28% in the quarter, driving segment revenue up 40% year-on-year to Rs 1,385.3 crore. Besides volume, the company said its average selling price also increased 7% year-on-year, driven by customers choosing premium options without any price hikes. 

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While overall growth was mostly volume-led, margins also improved in the quarter. EBITDA margin in Q3 rose to 20.8%, up from 16.3% in the year-ago quarter. “This expansion is driven by operating leverage inherent in our vertically integrated, technology-led model: as revenue scales, our fixed cost base grows at a much slower rate,” the management noted in the shareholder letter.

To attract new customers, Lenskart expanded its footprint rapidly, both in India and its international markets such as Singapore, Japan, South-east Asia and West Asia. In India, the company opened 169 new stores taking the total store count to 2,439. Internationally, it opened 26 stores in Q3, bringing the total to 705. 

So far in the current financial year, the company has opened 420 stores in total. In comparison, it had opened 193 stores in the first nine months of FY25.

Beyond Metros

Among the new stores in India, those in Tier 2+ locations, generated Rs 13.2 lakhs in average monthly revenue between Q1 and Q3 in FY26, outperforming new stores in Metros and Tier 1, which generated about Rs 12.7 lakhs. The company said it has identified potential for nearly 4,500 more stores in India, of which about 3,000 locations are in Tier 2+ towns.

“In Tier 2+ markets specifically, we added 71 net new stores, demonstrating the depth of the India market. We added our presence in towns such as Ambur (Tamil Nadu), Nagarkurnool (Telangana), Sitarganj (Uttarakhand), Udalguri (Assam) and Jaisalmer (Rajasthan),” the management said.

International Biz

While Indian markets showed healthy momentum, revenue from Lenskart’s international business also rose in tandem. In the December quarter, revenue from its international business grew 32.7% to Rs 935.9 crore. 

“This acceleration reflects favorable currency (~24% YoY growth in constant currency) and a lower base in the prior year period,” the management said. “However, the underlying momentum is equally strong, with robust volume and same-store sales growth across Japan, Thailand, UAE, and Saudi Arabia driving the performance.”

The company earns much higher product margins overseas than in India. In the first nine months of this year, international margins were 75.7%, compared to 63.5% in India. This stronger profitability helped the overseas business outperform India’s past performance, even with half as many stores.