Bengaluru, July 30 -- Value apparel retailer V2 Retail Ltd's net profit jumped in the April-June quarter, driven by sales growth and continued store expansion, even as consumption in India's small towns remained uneven amid weak demand.

The company's net profit surged 51% from a year earlier to Rs.24.7 crore in the three months through June, as expenses rose at a slower pace of 21%, it said in an exchange filing on Wednesday. The higher profit was attributed to revenue growth significantly outpacing costs, helping the company expand margins.

The company reported a consolidated revenue of Rs.632 crore for the April-June period, up 52% year-on-year, marking its highest quarterly revenue since being set up as Vishal Megamart Ltd in 2001. T...