Lenskart Q2 Results: Profit zooms 122% YoY to Rs 227 crore; revenue grows 36%

Eyewear solutions provider Lenskart Solutions on Wednesday reported a 122.1% year-on-year (YoY) jump in consolidated net profit to Rs 227.08 crore in the September quarter (Q2FY27), compared with Rs 102.22 crore in the corresponding quarter last year.

Revenue from operations rose 35.7% YoY to Rs 2,845.03 crore during the quarter, up from Rs 2,096.14 crore in Q2FY26.

On the expenses front, total expenses increased 31.1% YoY to Rs 2,596.80 crore, compared with Rs 1,980.34 crore in the year-ago period.

Revenue from operations in the India segment rose 35.3% YoY to Rs 1,668 crore in Q2FY27, compared with Rs 1,233 crore in Q2FY26.

Product margin increased 36.6% YoY to Rs 1,068 crore, from Rs 782 crore in the year-ago quarter. Product margin as a percentage of revenue improved to 64%, compared with 63.4% in Q2FY26.

EBITDA jumped 50.5% YoY to Rs 362 crore in Q2FY27, against Rs 241 crore in Q2FY26. EBITDA margin expanded to 21.7% from 19.5% in the corresponding quarter last year.

International Segment

Revenue from operations in the international segment grew 29.5% YoY to Rs 1,201 crore in Q2FY27, compared with Rs 928 crore in Q2FY26.

Product margin increased 32.3% YoY to Rs 926 crore, from Rs 700 crore in the year-ago quarter. Product margin as a percentage of revenue improved to 77.1%, compared with 75.5% in Q2FY26.

EBITDA rose 45.9% YoY to Rs 264 crore in Q2FY27, against Rs 181 crore in Q2FY26. EBITDA margin expanded to 22% compared with 19.5% in the corresponding quarter last year.

Other Highlights

EBITDA (pre-IndAS 116) margin expanded to 13.8% in Q2FY27, compared with 11.1% in Q2FY26. The margin improved in both India and International segments, rising to 16% (13.4% in Q2FY26) and 10.6% (7.3% in Q2FY26), respectively.

Product margin improved to 70% in Q2FY27 from 69.2% in Q2FY26, remaining resilient despite continued depreciation of the rupee against the Chinese yuan. India reported a product margin of 64%, compared with 63.4% a year ago, while International recorded 77.1%, against 75.5%.

The company generated Rs 388 crore in operating cash flow in H1FY27, comfortably covering store capital expenditure. The increase in plant capex, led by Hyderabad, was funded through remaining cash accruals and other inflows, resulting in a net cash inflow of Rs 12 crore before M&A.

Return on capital employed (ROCE) improved to 22.5% in H1FY27, compared with 14.6% in FY26, driven by EBIT growth and disciplined capital allocation.

The company conducted 0.8 crore eye tests in Q2FY27, registering a 40.4% YoY growth. In India, eye tests increased 44.1% YoY to 0.7 crore, with more than half being first-time eye examinations.

Volume growth stood at 27.1% YoY in Q2FY27, with India recording 26.5% growth and International registering 29.7%. The company said volume remains an important measure of business growth given its low market share.

India reported same-store sales growth (SSSG) of 20.8% in Q2FY27, compared with 14.8% in Q2FY26, with growth across Metro, Tier 1 and Tier 2+ markets. Sales per store growth (SPSG) stood at 27.1%, indicating robust growth even after accounting for cannibalisation.

The company added 165 net new stores in Q2FY27, compared with 142 in the year-ago quarter, taking its total active store count to 3,624. India accounted for 143 net additions, including 94 stores in Tier 2+ markets, with the company entering 61 new cities. International operations added 22 net new stores. Total net additions in H1FY27 stood at 297, compared with 225 in H1FY26.

Lenskart Gold crossed 1 crore active members in India, reaching 103 lakh members at the end of Q2FY27, up 38.6% YoY. Gold subscription fees received during the quarter rose 54.6% YoY to Rs 73 crore.

India's Net Promoter Score (NPS) improved to 79.6 in Q2FY27 from 77.6 in Q1FY27.

Ahead of the earnings announcement, shares of Lenskart Solutions settled at Rs 689.70 apiece on the NSE, up 2.78% from the previous close of Rs 671.05 per share. So far in 2026, its shares have rallied 58%, according to NSE data.