Indian eyewear seller Lenskart's quarterly profit soars on strong demand
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Lenskart Solutions, India's largest eyewear retailer, reported a nearly sevenfold increase in third-quarter profit, reaching 1.31 billion rupees ($14.4 million) for the quarter ending December 31. Revenue surged 38.8% to 23.08 billion rupees, driven by strong demand for prescription eyeglasses. Analysts at Antique Stockbroking noted significant growth potential in the unorganised eyewear markets of India and Southeast Asia. Lenskart's shares have increased 18% since their trading debut on November 10.
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