South Korea's major tobacco company KT&G Corp. said on Thursday that its first-quarter earnings fell more than 3 percent from a year earlier, despite higher domestic and foreign sales.

Consolidated net income for the January-March period was 263.4 billion won ($205.2 million), down 3.4 percent from a year earlier, the company said in a regulatory filing.

Sales rose 16.1% year-on-year to 1.4 trillion won, while operating income rose 6.3% to 333 billion won.

KT&G's first-quarter operating profit topped the average forecast of 312.3 billion won, according to a survey of brokerages by Yonhap News Agency's financial data firm Yonhap News Agency Infomax.

The company said: Sales rose in the first quarter due to growth in the heat-not-burn (HNB) e-cigarette industry both domestically and overseas, as well as increased exports of traditional cigarettes.

During the three-month period, KT&G sold about 9.54 billion cigarettes in the domestic market, down 0.9% year-on-year. However, its market share rose by 1.7 percentage points to 65.7%. The company has a 45.1% share in the HNB segment.

Exports of traditional cigarettes rose 43.8% year-on-year to 11.5 billion sticks in the first quarter, thanks to a pickup in shipments to key markets including the Middle East and Asia Pacific.

Korea Ginseng Corp., a subsidiary of KT&G, said its first-quarter sales fell 1.6 percent year-on-year to 374.1 billion won, while operating income and net profit fell 35.8 percent and 30.2 percent, respectively.

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