Lenskart Revenue More Than Doubles, Loss Nearly Halves In FY23
Its employee expenditure ballooned to Rs 718 crore from Rs 245 crore, a sign of considerable expansion.
Lenskart Solutions Pvt.'s revenue grew more than twofold and also narrowed losses significantly in financial year 2023. The eyewear major posted a consolidated revenue from operations of Rs 3,788 crore in 2022–23, up 152% from Rs 1,502 crore in fiscal 2022, according to financial statements filed with the Registrar of Companies and accessed via TheKredible.
The Peyush Bansal-led company's losses narrowed to Rs 63.7 crore in fiscal 2023 from Rs 102.3 crore in the year-ago period. Its employee expenditure ballooned to Rs 718 crore from Rs 245 crore, a sign of considerable expansion.
Softbank and Temasek-backed Lenskart is also looking to set up a new facility near the Kempegowda International Airport in Bengaluru, with an eye on continuing expansion.
Speaking to NDTV Profit in March, Bansal had said Lenskart had grown beyond India to the Middle East and southeast Asia. "Southeast Asia is the myopia capital of the world, so expanding there is quite natural for us," he said.
He had said that Lenskart was looking at kids eyewear as an emerging growth category for the company.