Brazil retailer GPA posts 23 percent rise in quarterly profit

SAO PAULO, April 29 Tue Apr 29, 2014 7:38pm EDT

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SAO PAULO, April 29 (Reuters) - Brazil's biggest retailer, GPA, posted a 23 percent rise in first-quarter net income from a year earlier to 338 million reais ($152 million), according to a Tuesday filing.

Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, rose 22 percent to 1.05 billion reais.

($1 = 2.23 Brazilian reais) (Reporting by Brad Haynes; Editing by Bernard Orr)

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