SEOUL, May 13 (Reuters) - South Korea's Ssangyong Motor Co said on Thursday its net profit tumbled around 76 percent in the first quarter from a year earlier, hit by sluggish local sales and a heavy tax burden.
Ssangyong's net profit fell to 40.5 billion won ($34.29 million) in the first quarter ended March 31, against a 166.9 billion won profit a year earlier. Sales fell 14.5 percent to 773.7 billion won. ($1=1181.0 Won)