Kia-Q1 earnings

Kia Q1 net falls 0.2 pct to 1.03 tln won

SEOUL, April 25 (Yonhap) -- Kia Corp. on Monday reported its first-quarter net profit of 1.03 trillion won (US$826.1 million), down 0.2 percent from a year earlier.

The company said in a regulatory filing that it posted 1.6 trillion won in operating profit for the quarter, compared with 1.07 trillion won a year ago. Sales rose 10.7 percent to 18.35 trillion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 1.13 trillion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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