[What The Financials] Lenskart Turns Profitable In FY20, Revenue Nears INR 1000 Cr
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India, Feb. 23 -- After widening its losses by 78% in the previous year, Delhi NCR-based eyewear company Lenskart has turned profitable in the financial year 2020 that ended in March last year. The company's primary India business - Lenskart Solutions Private Limited - has reported a profit of INR 17.7 Cr, with revenue almost doubling to INR 963.7 Cr in the same time period.
Lenskart's expenses also grew a good 88%, from INR 515.2 Cr in FY2019 to INR 945.9 Cr in FY2020. The company's revenue had grown 56% to INR 485.5 Cr in FY2019, with losses booming 78% to INR 30.1 Cr. Its revenue was at INR 310.9 Cr in FY2018 with expenses worth INR 429 Cr, leading to a loss of INR 27.89 Cr.
Lenskart was founded by Peyush Bansal, Amit Chaudhary and S...
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