UPDATE 1-Turkish Tupras 2007 profit rises to 1.3 bln lira

(Adds details, share price)

ISTANBUL, March 26 (Reuters) - Turkish oil refiner Tupras TUPRS.IS posted a 58 percent increase in 2007 net profit to 1.298 billion lira ($1.0 billion) on Wednesday, as revenue grew faster than sales costs.

Tupras, part-owned by conglomerate Koc Holding KCHOL.IS since a privatisation, said in a filing with the stock market that sales rose 12 percent to 22.5 billion lira.

The firm, which is the only refiner in Turkey, said net operating profit rose 52 percent to 1.270 billion lira. The bottom line was also boosted by a rise in financial gains.

Shares in Tupras have outperformed the Istanbul market this year, falling 18 percent against a 27 percent decline on the main index .XU100. (Reporting by Emma Ross-Thomas; Editing by Quentin Bryar)