UPDATE 2-Kia Motors Q1 operating profit, shares tumble

Newswire

(Recasts, adds analyst quotes, updates shares) By Kim Kyoung-wha SEOUL, April 29 (Reuters) - Kia Motors Corp. , South Korea's number-two automaker, posted a sharp 89 percent fall in first-quarter operating profit, on a stronger currency, higher material costs and sluggish local sales, knocking its shares to a 3-month low on Friday. Kia, an affiliate of top auto maker Hyundai Motor Co. , said hefty gains from shareholdings such as in auto parts maker Hyundai Mobis helped lift net profit ...

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