Lenskart reported a blockbuster Q3 FY26, with revenue from operations rising about 37–38% YoY to ~₹2,308 crore and consolidated net profit jumping over 70x to ~₹131–133 crore, driven by strong same-store growth, rapid store additions, and sharply higher margins.

Lenskart Q3 FY26 results – Key Numbers

• Revenue from operations:

  • Around ₹2,307.7–2,308 crore, up 37–38% YoY from ~₹1,669 crore.
• Profit after tax (PAT):
  • About ₹131–133 crore, vs ~₹1.8–2 crore in Q3 FY25 (70x–74x jump).
• EBITDA:
  • Roughly ₹462 crore, up ~90% YoY; EBITDA margin expanded from ~14.5% to ~20%.
• 9M FY26 performance:
  • Revenue around ₹6,487 crore, up ~29–30% YoY.

Operations and growth drivers

• Store expansion:

  • Added 195 net new stores in Q3 (vs 81 a year ago), including 169 in India and 26 in international markets; FY26 YTD net additions at ~420 stores.
• Volumes & eye tests:
  • Sold about 8.9 crore (89 lakh) eyewear units, up ~30% YoY.
  • Conducted 6.3 million eye tests in Q3, up ~54% YoY (India ~5.5 million, >60% growth).
• Geography mix:
  • India revenue up ~22% YoY to ~₹1,385 crore.
  • International revenue up to ~₹936 crore (strong double‑digit growth, ~32–33%+).
• Same‑store metrics:
  • India same‑store sales growth (SSSG) ~28%; same‑store performance growth (SPSG) ~35–36%, indicating better productivity per store.

Strengths / positives of Lenskart Q3 FY26

• Explosive profit growth: Net profit jumps from ~₹2 crore to ~₹131–133 crore on the back of operating leverage and improved unit economics.
• Healthy revenue momentum: ~38% YoY revenue growth with strong contributions from both India and international markets.
• Margin expansion: EBITDA margin improves from ~14.5% to ~20%, showing better cost control, scale benefits and higher efficiency per store.
• Aggressive, disciplined expansion: 195 net new stores in one quarter, 420 YTD, with AI‑driven site selection helping avoid cannibalisation.
• Robust operating metrics: 8.9 million units sold, 6.3 million eye tests, high repeat business driven by membership and omnichannel presence.

Risks / watch‑outs for Lenskart

• Valuation and expectations risk: After such a sharp profit jump, market expectations on growth and margins stay very high; any miss can hurt the stock.
• Execution risk in expansion: Adding hundreds of stores annually increases risk of underperforming locations, higher rentals and operating costs.
• Competition in eyewear: Intense competition from offline chains, local opticians and online players can pressure pricing and promotions.
• Dependence on discretionary spend: Eyewear fashion, upgrades and premium lenses rely partly on discretionary consumption which can slow in weak macros.
• International scaling challenges: Different regulations, consumer preferences and supply constraints in Middle East/SEA can impact profitability abroad.

FAQs

1. What was Lenskart’s revenue and profit in Q3 FY26?
Revenue from operations was around ₹2,307–2,308 crore, up about 37–38% YoY, while net profit stood near ₹131–133 crore, up more than 70x YoY.

2. How did margins trend this quarter?
EBITDA rose to roughly ₹462 crore, with EBITDA margin improving to ~20% from around 14.5% a year ago, showing strong operating leverage.

3. How many stores did Lenskart add in Q3 FY26?
Lenskart added 195 net new stores in Q3 (169 in India, 26 overseas), taking FY26 year‑to‑date additions to around 420 stores.

4. What were the key operating metrics (eye tests, units sold)?
The company sold about 8.9 million eyewear units and conducted around 6.3 million eye tests in Q3 FY26, a YoY increase of roughly 30% and 54%, respectively.

5. How are India and international businesses performing?
India revenue grew about 22% YoY to ~₹1,385 crore, while international revenue reached ~₹936 crore with faster growth and better margins in newer markets.

6. Is Lenskart a good buy after Q3 FY26?
The quarter showcases strong growth, margin expansion and scaling execution, but investors should weigh high growth expectations, valuation, competition and execution risks before deciding; this is not personalised investment advice.