Brisa Q1 net profit falls 21.4 percent

LISBON, April 29 (Reuters) - Portugal's leading motorway operator Brisa (BRI.LS) on Wednesday posted a 21.4 percent drop in first-quarter net profit to 19.5 million euros on lower traffic volumes, but exceeding market expectations.

Brisa, which operates more than half of Portugal's paid highways, said in a statement that total revenues slipped 4.3 percent to 146.2 million euros and toll revenues fell 5.4 percent to 128.6 million euros.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were unchanged at 102.4 million euros, it added.

Analysts in a Reuters survey had forecast a net profit of 16.7 million euros and revenues of 145 million euros.

(Reporting by Shrikesh Laxmidas; Editing by Axel Bugge)