Bengaluru: Eyewear retailer Lenskart Solutions reported a sharp jump in profit in the June quarter, helped by higher sales, store expansion and customers buying more premium products.The company posted a net profit of Rs 228.4 crore in Q1 FY27, nearly four times the Rs 61.2 crore it reported a year earlier. Total income rose 43% to Rs 2,782.7 crore from Rs 1,946.1 crore.“We see our role as creating the market, not competing in it,” founder and CEO Peyush Bansal said in the shareholder letter.The company said it conducted around 70 lakh eye tests during the quarter, up nearly 40% from a year earlier, while eyewear volumes rose 25.7%.India same-store sales grew 18.3%. Lenskart added 132 net new stores during the quarter, taking its total active store count to 3,459. Of these, 116 additions were in India, including 83 in tier-2 and smaller markets. The company entered 50 new Indian cities during the quarter.“India has not bought its glasses yet,” Bansal said, adding that the company’s ambition is to cater to customers across incomes, ages and towns. Lenskart is trying to expand at both ends of the market, selling eyewear for as little as Rs 500 through its Hustlr Club while also pushing premium lenses and brands.“It took us too long to crack the Rs 500 pair. The customer was ready; our costs were not. And we underestimated how fast our own customers would premiumise,” Bansal said.That shift is showing up in selling prices. Lenskart’s average selling price in India rose 6.4% to Rs 1,856, driven by a greater mix of premium products and progressive lenses. Active Lenskart Gold members, meanwhile, increased to 93.5 lakh.The company is also expanding overseas. Its international business grew 38% during the quarter. Bansal said the business had moved beyond proving whether its overseas strategy worked. “The question mark is gone; what remains is scale,” he said.
