Lenskart made progress towards profitability in FY24 with increased revenue and reduced losses

Eyewear and eye care brand Lenskart made progress towards its goal of profitability in the 2024 financial year and reduced its net loss to Rs 10 crore, representing a 84% decline from its 2023 fiscal year total of Rs 64 crore. The omni-channel business also saw its operating revenue increase by 43% year on year during the 2024 fiscal year.

Lenskart’s operating revenue stood at Rs 5,428 crore, according to data on business intelligence platform Tofler. The business’ top-line growth was however slower than that reported in the 2023 financial year, when Lenskart doubled its revenue year on year, ETTech reported.
 
The 2024 financial year saw Lenskart report earnings before interest, tax, depreciation, and amortisation of Rs 856 crore, up from Rs 403 crore in the 2023 financial year. Lenskart has already crossed the $1 billion revenue run rate mark in the ongoing 2025 financial year at over Rs 8,400 crore.
 
In order to promote sustained growth, Lenskart will invest $200 million in a new manufacturing facility which will be 10 times the size of its current unit, ET Bureau reported. The business currently produces between 30 million to 40 million lenses and 25 million glasses frames per year.