Lenskart shares jump 12% after Q3 profit zooms 70x; brokerage raises target price

Shares of Lenskart Solutions surged in early trade on Thursday, following a strong third-quarter performance for FY 26, reporting a consolidated net profit of Rs 131.03 crore for the quarter ended December, marking a 70-fold or 6,982.7 per cent year-on-year (YoY) jump against Rs 1.85 crore in the same period last year.

At 9:32 am, the stock was trading 12.46 per cent higher at Rs 524.45 apiece on the BSE, significantly up from its previous close of Rs 466.35. 

The robust financial print was driven primarily by volume expansion rather than just price hikes. Consolidated revenue grew 37 per cent YoY to Rs 2,307.7 crore, fueled by a 29 per cent increase in eyewear units sold, JM Financial said.

“This is not cost-cutting. This is structural operating leverage. The compounding has begun,” Lenskart CEO Peyush Bansal wrote to shareholders.

According to the stock exchange filing, the company  revealed plans for a soft launch of its ‘B smart glasses’ in the fourth quarter, powered by a Qualcomm AR1 chip and Google Gemini Live, marking a strategic pivot into wearable intelligence.

“Operational performance was even more robust as India pre-Ind AS EBITDA became 2x YoY and the international segment turned profitable largely on the back of operating leverage,” JM Financial said.

JM Financial said that the Q3 performance has reinforced our confidence in Lenskart’s operating model where growth and profitability are not trade-offs. The brokerage highlighted that the company continues to invest for the future without taking its eye off growth, utilising a mix of affordability, assortment, and access to drive revenue.

JM Financial has retained its “Buy” rating on the stock and raised its target price. The brokerage increased its 12-month target price to Rs 565 per share, up from the earlier target of Rs 535.