Seoul: Kia Corp., South Korea's second-largest automaker, reported a fourth-quarter net profit of 1.47 trillion won (US$1 billion), marking a 15.5 percent decrease from the same period last year. The company's recent financial disclosure highlighted a notable decline in its quarterly earnings.

According to Yonhap News Agency, Kia stated in a regulatory filing that its operating profit for the quarter amounted to 1.84 trillion won, down from 2.71 trillion won recorded a year earlier. Meanwhile, the company's sales saw a 3.5 percent increase, reaching 28.08 trillion won.

The reported earnings did not meet market expectations, as analysts had estimated an average net profit of 1.5 trillion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. The discrepancy between the expected and actual figures reflects the challenges Kia faced during the quarter.