Hero MotoCorp , India's top two-wheeler maker by sales, reported a slight increase in first-quarter profit on Wednesday, surprising analysts who had expected the profit to fall, as higher exports offset weak domestic sales.

Hero's revenue from operations declined 4.7 per cent to ₹9,728 crore from ₹10,210.79 crore in the same quarter last year

Hero MotoCorp reported a standalone net profit of ₹1,126 crore for the June quarter, nearly unchanged from ₹1,123 crore last year, exceeding analyst estimates. However, revenue declined by 5.5% to ₹9,

The company’s standalone profit after tax (PAT) reported a growth of 0.3 per cent year-on-year (YoY) to stand at Rs 1,126 crore against Rs 1,123 crore in the year-ago period. This was boosted by a one-time gain of Rs 722 crore from the dilution of its investment in associate company Ather Energy.