SAO PAULO, May 2 (Reuters) - Brazilian steelmaker Gerdau ( GGB )

posted on Thursday a 47.9% decrease in its adjusted

net profit for the first quarter from the same period a year

earlier, affected by lower steel sales amid higher imports in

Brazil.

It reported a 1.25 billion reais ($244.6 million) adjusted

net profit for the three-month period ended in March.

Gerdau ( GGB ), which has most of its business in Brazil and North

America, posted a net revenue decline of 14.1% year-on-year, as

steel sales fell 8.6% in volume, with the company attributing

the performance to "excessive imports in the Brazilian market".

However, the firm welcomed Brazil's

government decision

in late April to establish import quotas for 11 steel

products and to impose higher taxes on them when those volumes

are exceeded, dubbing the move "an important progress" in the

commercial defense of the national steel industry.

Gerdau ( GGB ) said the measure would encompass about 25% of the

volume it sells in Brazil.

It posted adjusted earnings before interest, taxes,

depreciation and amortization (EBITDA) of 2.81 billion reais,

down 34.9% from a year earlier, while adjusted EBITDA margin

declined 5.5 percentage points to 17.4%.

($1 = 5.1109 reais)