Petrobras Q1 net profit falls to 5.82 bln reais

SAO PAULO Mon May 11, 2009 5:49pm EDT

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SAO PAULO May 11 (Reuters) - Brazilian state-controlled oil company Petrobras posted first-quarter net profits of 5.82 billion reais ($2.83 billion) versus 7.24 billion reais in the same three-month period a year ago, the company said on Monday.

Petroleo Brasileiro SA (PETR4.SA)(PBR.N) said earnings before interest, taxes, depreciation and amortization (EBITDA) fell to 13.4 billion reais from 14.2 billion reais a year ago.

The oil giant had been expected to post a net profit of 5 billion reais ($2.4 billion) and EBITDA of 11.9 billion reais according to the average forecast of five analysts surveyed by Reuters.

($1=2.059 reais)

(Reporting by Peter Murphy)

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