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Lenskart pares losses by 84% in FY24, revenue grows 43% as opposed to being doubled a year ago

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Lenskart pares losses by 84% in FY24, revenue grows 43% as opposed to being doubled a year ago

Lenksart, the omnichannel eyewear retailer, reduced its losses by 84% in FY24 to Rs 10.15 crore compared to Rs 63.7 crore the previous year. The company's operating revenue increased by 43.2% to Rs 5427.7 crore in FY24. The total expenses of Lenskart rose by 37%, with significant contributions from employee benefits, interest payments, and material costs. Fidelity, an asset management firm, marked up the valuation of its stake in Lenskart by 12% in September, bringing the company's valuation to $5.6 billion. Lenskart generated Rs 2271.6 crore from its operations outside of India in FY24.

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