SÃO PAULO--Brazilian mining giant Vale SA reported a 36% drop in net profit in the first quarter from a year earlier as the iron-ore producer struggled with lower volumes.

Vale said its first-quarter net profit fell to $1.59 billion from $2.49 billion a year earlier.

Chief Executive Fabio Schvartsman described the first quarter as "very complex" in a filing Wednesday, pointing to "the challenge of seasonally lower volumes."

He said he plans to make Vale a "more predictable company."

"Thus, in any given price scenario, the market will be able to easily forecast Vale's performance," Mr. Schvartsman said.

Cash flow as measured by earnings before interest, taxes, depreciation and amortization, or Ebitda, fell 8% in the first quarter from a year earlier to $3.97 billion. Net operating revenues rose 1% to $8.60 billion.

Write to Samantha Pearson at samantha.pearson@wsj.com

(END) Dow Jones Newswires

April 25, 2018 19:01 ET (23:01 GMT)