UPDATE 1-FBR Capital Markets posts narrower Q1 loss

* Q1 loss/shr $0.13 vs est loss/shr $0.28

* Total rev fell 11 pct

* Investment banking rev up 41 pct April 21 (Reuters) - FBR Capital Markets Corp FBCM.O reported a narrower-than-expected first-quarter loss, helped by a rise in investment banking revenue and an income tax benefit.

The company reported a net loss of $8.3 million, or 13 cents per share, for the first quarter, compared with a net loss of $16.2 million, or 27 cents, a year earlier.

Total revenue fell 11 percent to $44.2 million. Investment banking revenue rose 41 percent to $11.1 million.

Analysts on average were expecting a loss of 28 cents a share, before special items, according to Thomson Reuters I/B/E/S.

The company also got an income tax benefit of $16.3 million.

Shares of the company closed at $4.58 Tuesday on Nasdaq. (Reporting by Supantha Mukherjee in Bangalore; Editing by Roshni Menon)