SEOUL, April 30 (Reuters) - South Korean battery firm LG

Energy Solution (LGES) on Wednesday posted a 138%

rise in first-quarter profit, helped by favourable foreign

exchange rates that cushioned slowing growth of electric vehicle

(EV) sales in major overseas markets.

LGES, which supplies Tesla, General Motors ( GM )

and Hyundai Motor ( HYMTF ) among others, reported an

operating profit of 375 billion won ($261.96 million) for the

January-March period, in line with earlier guidance.

The result compared with a 157 billion won profit a year

earlier.

The company would have made an 83 billion won operating loss

without a tax credit received under the U.S. Inflation Reduction

Act, LGES said in a regulatory filing.

($1 = 1,431.5000 won)