Lenskart Cuts Losses By 84% To Rs 10.15 Crore, Revenue Up 43% In FY24
Lenskart reported significant improvements in FY24, with a sharp reduction in losses to Rs 10.15 crore and a notable revenue growth of 43% to Rs 5,427.7 crore.
Eyewear retailer Lenskart recorded a loss of Rs10.15 crore in FY24, 84% lower than Rs 63.7 crore recorded last fiscal, according to data from business intelligence platform Tofler.
In FY24, revenue from operations stood at Rs 5427.7 crore, 43% higher than Rs3788 crore recorded last fiscal. Total income came in at Rs 5609 crore, up 42% from 3927 crore last year. Expenses in the year increased to Rs 5,549 crore from Rs 4,025 crore.
The company earned standalone revenue from operations of Rs 3186.6 crore from sale of goods and services and other operating revenue from lease income, website license fee, customer support fees and sale of scrap.
Sale of goods included sale of prescription eyewear for Rs 2486.02 crore and sale of other goods for Rs 484.13 crore, sale of services included service fee of Rs 1.11 crore, membership fee of Rs 59.11 crore,and Home Eye check-up income of Rs 1.012 crore, Tofler noted.
Earlier in June, Lenskart raised $200 million in secondary investment from Temasek and Fidelity Management and Research Co., which took its total funding secured in the past year-and-a-half to roughly $1 billion.
Lenskart operates over 2,500 stores, of which roughly 2,000 are in India. It continues to deepen its penetration in India while scaling its international presence in Asia, including in Southeast Asia and the Middle East.
