Lenskart swings to profit in FY23. Founder Peyush Bansal brings new CPO to strengthen work culture.

From left, Peyush Bansal, co-founder and CEO, Lenskart; Shweta Shukla, CPO, Lenskart; image credit: Lenskart.com; Linkedin.

Synopsis
Lenskart founder and CEO Bansal had been doubling up as its chief people officer for two-and-a half years. Two weeks ago, the startup roped in a seasoned professional for the role, who is stepping in amid a spate of top-level exits. This happens at a time when the company has reported a profit of INR260 crore in FY23 as against an INR100 crore loss a year ago.

Lenskart is back in the black. From a loss of INR100 crore in FY22, it swung into a profit of INR260 crore in FY23 as revenue more than doubled to INR3,780 crore, the company’s founder and CEO Peyush Bansal told ET Prime in an interview. The latest numbers have only solidified Lenskart’s impressive financial performance. In the past four years, its revenue has quadrupled, and it has reported profits in three out of the last four financial years.