(Adds details, context)
May 4 (Reuters) - Brazilian wholesale chain Assai said on Thursday its first-quarter net income fell
66.4%, compared to the same period last year, to reach 72
million reais ($14.45 million), hit by the country's high
interest rate.
Net revenue for the first three months of 2023 grew 32% to
15.1 billion reais.
Adjusted earnings before interest, taxes, depreciation and
amortization (EBITDA) rose 26.5% to 951 million reais in the
quarter.
"Net income reached 72 million reais in the quarter ... due
to the scenario of high interest rates, which significantly
impacted the financial result for the period," the company said
in a statement filed at the country's stock exchange regulator.
Central bank policymakers on Wednesday held interest rates
steady at a cycle-high of 13.75%.
($1 = 4.9842 reais)
(Reporting by Carolina Pulice; Editing by Brendan O'Boyle)
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