Lenskart's Q2 profit more than doubles to ₹232.5cr
What's the story
Lenskart, India's leading eyewear retailer, has reported a massive year-on-year (YoY) growth in its net profit for the September quarter. The company's net profit stood at ₹232.5 crore, more than double the ₹103.5 crore it earned during the same period last year. This is also a slight increase from the previous quarter's net profit of ₹228.4 crore, according to an exchange filing on November 4.
Revenue growth
Revenue from operations up 36% YoY
Lenskart's revenue from operations also saw a significant increase, rising 36% YoY to ₹2,845 crore. This is an improvement over the previous quarter's revenue of ₹2,714.2 crore.
The company's total expenses for the September quarter stood at ₹2,596.8 crore, a 31% increase from last year's ₹1,980.3 crore and higher than the previous quarter's expenses of ₹2,483.5 crore.
Market response
Lenskart's shares rise on strong Q2 performance
Following the announcement of its strong Q2 results, Lenskart's stock price also witnessed an uptick.
The company's shares closed at ₹693.7 on the Bombay Stock Exchange (BSE), marking a 3.37% increase from its previous close.