Hero MotoCorp on Wednesday reported a 10.86 per cent decline in its net profit at Rs.548.58 crore for the first quarter ended June 30, 2013, against Rs.615.46 crore in the year-ago period. Net sales declined by 1.30 per cent to Rs.6,126.84 crore from Rs.6,207.78 crore. Commenting on the results, Hero MotoCorp Managing Director and CEO Pawan Munjal said: “The fact that profit before tax has surpassed the previous as well as the corresponding quarter, despite a marginal de-growth in volumes during the quarter and the overall economic slowdown, is a strong statement of our intent and vision.” — PTI