Lenskart goes from promise to proof with solid Q3, sustaining growth in focus now

Subscribe to enjoy similar stories. The December quarter (Q3FY26) result marked the first real performance test for Lenskart Solutions Ltd since its high-profile initial public offering in November 2025. The eyewear company impressed with a 240% year-on-year surge in consolidated net profit to around ₹131 crore.

While that is mostly due to a small base of ₹39 crore in the year-ago period, other line-items also point to robust performance. Revenue jumped 38% year-on-year to ₹2,308 crore, driven primarily by volume expansion and new customer addition, while Ebitda almost doubled to ₹462 crore on operating leverage. In response, the stock soared by around 10% on Thursday, hitting a new 52-week high of ₹527.30, taking its total post-listing tally to 25% The management expects premiumization to also flow through into margins with scale, as currently much of the benefit from high-margin brands like Owndays and Meller is passed back to consumers through campaigns like ‘new lens replacement’.

Volumes grew 30% over Q3FY25, receiving a leg up from 195 net new stores opened while sustaining healthy same-store-sales-growth in Q3FY26, thanks to Lenskart’s GeoIQ AI algorithm that aims to maximize catchment while limiting cannibalization. The management also underscored the importance of eye testing services to penetrate markets in tier-2 and beyond, which tend to be fragmented and underserved. Lenskart conducted 63 lakh eye tests in Q3, 54% higher year-on-year.

Its new stores in tier 2+ cities have been generating more revenue per month than its new metro stores. But the view is not entirely clear. Competition is intense, as local firms continue to pose a threat.