Lenskart's India marketing ratio falls to 4.8% as Q1 revenue rises 31%

New Delhi: Lenskart's marketing expenditure as a share of India revenue fell to 4.8% in the first quarter of FY27 from 5.7% a year earlier, as the eyewear retailer reported higher revenue and profitability. The company's filing did not disclose marketing expenditure as a standalone absolute rupee figure. It said the lower marketing ratio reflected the "pull-driven nature" of the brand, with quality-led word of mouth remaining its primary customer acquisition engine. India revenue from operations rose 30.7% year-on-year to about Rs 1,531 crore in Q1 FY27 from Rs 1,172 crore in Q1 FY26 on a proforma basis. It was up from Rs 1,475 crore in the preceding quarter. Digital’s role in Lenskart's purchase journey also increased during the quarter. Digitally influenced sales accounted for about 55% of India revenue, compared with about 41% a year earlier. App downloads crossed 12 crore from 10 crore a year ago. The company said it continued investing in customer profiles, catalogue improvements and an AI stylist, along with journeys that began online and concluded at its stores. The company added 116 net new stores in India during the quarter, compared with 70 in Q1 FY26, and entered 50 new cities. Quarterly transacting customer accounts in India increased 18.5% year-on-year to 44.2 lakh. Active Lenskart Gold members reached 93.5 lakh, while subscription fees increased 57.4% to Rs 66 crore. India's average selling price increased 6.4% year-on-year to Rs 1,856, which the company attributed to a higher contribution from premium products and progressive lenses. While marketing took a smaller share of revenue in India, Lenskart continued spending on brand building in international markets, including Japan, Thailand and Saudi Arabia. The company cited campaigns and collaborations involving Lenskart, Meller and Owndays. Its "Run for a Frame" activity in Thailand saw more than 40,000 participants redeem frames and, according to the company, increased store traffic by 120%. International revenue increased 38% year-on-year to about Rs 1,203 crore in Q1 FY27 from Rs 872 crore a year earlier. It was also higher than Rs 1,054 crore in Q4 FY26. On a constant-currency basis, international revenue grew about 29% year-on-year. At the consolidated level, proforma revenue from operations increased 33.6% year-on-year to Rs 2,714 crore. EBITDA rose 61.3% to Rs 589 crore, while EBITDA before IndAS 116 increased 95% to Rs 361 crore. The pre-IndAS 116 EBITDA margin expanded to 13.3% from 9.1% a year earlier. Profit after tax rose 182.3% year-on-year to about Rs 228 crore from Rs 81 crore. PAT margin increased to 8.4% from 4%. The company said its FY26 proforma PAT was about Rs 530 crore, meaning the June quarter alone contributed roughly 43% of the previous full year's profit. Consolidated product margin crossed 70% for the first time, reaching 70.3% in Q1 FY27 compared with 68.7% a year earlier. India's product margin stood at 64.2%, while the international business reported 77.1%. Lenskart said the improvement in India profitability reflected higher product margins and operating leverage across marketing and other costs as revenue expanded.