Eyewear company Lenskart Solutions said on Wednesday, 4 November 2026, that its net profit more than doubled in the July to September quarter (Q2 FY27). Revenue from operations rose 35.7% to about ₹2,845 crore.
The sources give slightly different profit figures. We explain the gap below. For readers, the main point is that Lenskart grew fast in India and abroad and kept its costs under control.
What happened
According to Economic Times, consolidated net profit rose 122.1% to ₹227.08 crore, from ₹102.22 crore a year ago. Revenue from operations grew to ₹2,845.03 crore from ₹2,096.14 crore. Total expenses rose 31.1% to ₹2,596.80 crore.
Revenue grew faster than expenses, so the company kept more of each rupee of sales as profit. That is the main reason profit grew much faster than sales.
The business news site Inc42 compared the quarter with April to June. Profit rose 1.8% from ₹228.4 crore, and revenue rose 4.8% from ₹2,714.2 crore. Other income was ₹54.5 crore, which took total income to ₹2,899.5 crore.
Where the sources differ
The main figures are close, but they are not the same. The table shows the gaps.
| Item | Economic Times | Inc42 |
|---|---|---|
| Net profit, Q2 FY27 | ₹227.08 crore | ₹232.5 crore |
| Net profit, Q2 FY26 | ₹102.22 crore | ₹103.5 crore |
| Profit growth | 122.1% | 124.7% |
| India revenue growth | 35.3% to ₹1,668 crore | 35.5% to ₹1,667.9 crore |
| International revenue growth | 29.5% to ₹1,201 crore | 36.5% to ₹1,201.1 crore |
| International revenue, a year ago | ₹928 crore | ₹879.6 crore |
Both sources agree on this quarter's international revenue. They give different figures for a year ago, so their growth rates differ.
We could not confirm which figures are right. Readers can check the company's results filing on the BSE or NSE website.
The numbers inside the business
EBITDA is profit before interest, tax, depreciation and amortisation. It shows what the main business earns before these costs. NDTV Profit reported that EBITDA grew 50% to ₹621.8 crore, from ₹414.6 crore.
Economic Times gave the figures by region. India EBITDA rose 50.5% to ₹362 crore, and the India EBITDA margin rose to 21.7% from 19.5%. International EBITDA rose 45.9% to ₹264 crore, and its margin rose to 22% from 19.5%.
Lenskart also reports a stricter measure called EBITDA before Ind AS 116. It counts store rent as a normal cost. On this basis, the overall margin rose to 13.8% from 11.1%. It was 16% in India and 10.6% abroad.
Product margin is the money left after paying for the frames and lenses that were sold. It improved to 70% from 69.2%. Economic Times said this margin held up even as the rupee kept falling against the Chinese yuan. A weaker rupee can make goods bought from China cost more.
Inc42 also reported profit for each segment. India segment profit rose to ₹208.4 crore from ₹126.1 crore. International segment profit more than tripled to ₹97.2 crore from ₹31.1 crore. NDTV Profit's headline called the overseas business the surprise star of the quarter.
Stores, eye tests and customers
Lenskart added 165 net new stores in the quarter, against 142 a year earlier. It now has 3,624 active stores. India added 143 stores, including 94 in Tier 2+ cities, and the company entered 61 new cities. The international business added 22 stores.
India same-store sales growth was 20.8%, up from 14.8% a year ago. Sales volume, meaning the number of items sold, grew 27.1%. The company said volume matters because its market share is still low.
Lenskart carried out 0.8 crore eye tests, up 40.4%. In India, it did 0.7 crore tests, and more than half of them were first-time eye checks. Its paid membership, Lenskart Gold, reached 103 lakh members in India, up 38.6%. Membership fees in the quarter rose 54.6% to ₹73 crore.
These numbers are useful even if you do not own the stock. They show how a growing retail chain works. Lenskart is opening stores in smaller towns and turning eye tests into sales. You can compare this with how Bata India's store network did in the same quarter.
Cash and returns
Economic Times reported that Lenskart earned ₹388 crore of operating cash flow in the first half of FY27 (April to September). That was enough to pay for new stores. The company paid for factory spending, led by a plant in Hyderabad, from its remaining cash and other inflows. That left a net cash inflow of ₹12 crore, before any money spent on buying other businesses.
Return on capital employed (ROCE) improved to 22.5% in the first half, from 14.6% in FY26.
The share price
Before the results came out, Lenskart shares closed at ₹689.70 on the NSE, up 2.78% from ₹671.05, according to Economic Times. NSE data shows the stock is up 58% so far in 2026. When a share price has already risen a lot, the price may already reflect good news. So strong results do not always push the price higher.
Risks to keep in mind
- Weak rupee: The rupee has been falling against the Chinese yuan. If this continues, product costs could rise and margins could shrink.
- Slower growth from quarter to quarter: Inc42 said profit rose only 1.8% from the previous quarter. The big jump comes mainly from the comparison with last year.
- Heavy spending: New stores and factories need cash. After all spending, the first-half net cash inflow was only ₹12 crore.
- Unclear figures: The sources do not agree on some numbers, so check the official filing.
What to watch next
Readers can watch whether India same-store sales growth stays near 20%. It is also worth tracking whether international profit keeps rising and how fast new stores open in small cities. The rupee's value against the yuan matters for margins too. For other companies' quarterly numbers, see our results section.
Words explained
- Consolidated net profit: The profit of the company and all its group companies together, after all costs and tax.
- EBITDA: Earnings before interest, tax, depreciation and amortisation. It shows profit from day-to-day business before these costs.
- EBITDA margin: EBITDA as a share of revenue. A 22% margin means ₹22 of EBITDA on every ₹100 of sales.
- Ind AS 116: An accounting rule for leases, such as store rent. Figures "before Ind AS 116" count rent as a normal expense.
- Product margin: The share of revenue left after paying for the goods that were sold.
- Same-store sales growth: Sales growth only from stores that were already open a year earlier, so new stores do not push up the number.
- ROCE: Return on capital employed. It shows how much profit a company makes on the money put into the business.
- Tier 2+ cities: Smaller cities and towns, outside the big metros and large Tier 1 cities.
Sources: Economic Times, Inc42, NDTV Profit.
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