Turkey's Koc Q1 net profit falls 10 percent

ISTANBUL May 18 (Reuters) - Koc Holding, Turkey's biggest conglomerate, on Friday posted a 10 percent drop in its first-quarter profit, even as sales jumped 28 percent.

Net income was 538 million lira ($294 million) in the first three months of the year, according to a filing. Sales were 17.63 billion lira.

Koc ownes Tupras, Turkey's sole oil refiner, lender Yapi Kredi and automakers Ford Otosan and Tofas. ($1 = 1.8313 liras) (Reporting By Ayla Jean Yackley)