BENGALURU, July 16 Reuters Indian automaker Bajaj Auto reported a nearly 20 rise in firstquarter profit as it sold more expensive motorcycles and exports improved, sending its shares higher.

The Pulsar motorcycle maker39;s standalone profit after tax rose to 19.88 billion rupees 238 million for the three months to June 30.

Analysts had expected a profit of 19.84 billion rupees, as per LSEG data.

Shares of Bajaj Auto, the first Indian twowheeler maker to report firstquarter results, rose as much as 2 after results before trimming some gains to trade 1 higher. The Nifty Auto index rose 0.5.

Strong demand in the more expensive 125cc and above motorcycle segment, especially for its popular Pulsar in the urban market, helped boost the company39;s total twowheeler sales volume by 7 to about 951,000 units, as per its monthly sales data.

The company39;s total revenue rose 15.7 to 119.28 billion rupees, beating analysts39; average estimate of 118.80 billion rupees.

Bajaj Auto39;s portfolio of motorcycles in the category includes models in its Pulsar series and premium motorcycles that the company makes under partnerships with Austria39;s KTM and British Triumph.

Exports, which contribute heavily to Bajaj Auto39;s revenue, recovered from last fiscal39;s dull showing. Exports had bottomed out in fiscal 2024 amid currencyrelated issues in some African countries among others.

Bajaj Auto39;s total export volume climbed nearly 7, accounting for around 37 of its total overall…