New Delhi, Jul 21 (IANS): Two-wheeler major Hero Honda Thursday reported an increase of 13.4 percent in its net profit for the first quarter of 2011-12, which stood at Rs.557.89 crore as compared to Rs.491.69 crore in the like period of previous fiscal.

The company's net sales too jumped 32.2 percent in the quarter under review to Rs.5,637.64 crore from Rs.4,264.61 in the corresponding quarter of 2010-11.

The company said in a filing to the Bombay Stock Exchange (BSE) that its sales in April-June 2011 increased by 24 percent and stood at 15,29,577 units, as against 12,34,039 units sold in the first quarter of the last fiscal.

According to the filing, the company has re-appointed the firm's chairman and director Brijmohan Lall Munjal for another term of five years.

The company also re-appointed managing director and chief executive Pawan Munjal for another five-ear term.

The company's scrip at the BSE rose by 1.58 percent to Rs.1,789.