Lenskart Q2 profit more than doubles, beats Street estimates

Lenskart Solutions reported a 122% year-on-year increase in consolidated net profit to Rs 227 crore for the September quarter, beating the Bloomberg estimate of Rs 208 crore, as strong same-store sales in India and lower operating costs as a share of revenue boosted margins. Revenue from operations rose 35.7% to Rs 2,845 crore, slightly higher than the projected Rs 2,806 crore.

Ebitda stood at Rs 624 crore, against the Bloomberg estimate of Rs 603 crore, while the margin expanded to 21.9% from 19.8% a year ago on a like-for-like basis.