LISBON, May 9(Reuters) - Portugal's EDP Renovaveis , the world's fourth-largest wind energy producer, said on Thursday its first quarter net profit rose 4%, slightly beating expectations as capital gains made on the sale of wind farms offset falling revenue.

The company, majority owned by power utility EDP, said it booked a net profit of 68 million euros ($73.06 million).

EDPR said its revenue fell by 11% to 632 million euros mainly due to a 3% year-on-year drop in power generation to 9.9 terawatt-hour in the quarter, while the average selling price of power also fell by 3% to around 61 euros per megawatt-hour.

Analysts polled by LSEG had expected, on average, a profit of 65.7 million euros out of 633.5 million euros in revenue.

The company booked gains worth 58 million euros on the sale of three wind farms in United States and Canada, it said in a statement.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by only 1% to 454 million euros in January-March, but the EBITDA margin - a measure of profitability - increased to 72%, from 63% a year earlier.

The company, which operates in 28 countries across Europe, Asia and the Americas, said capex fell 20% to 731 million euros in the first quarter, with more than 80% of it in Europe and North America, "reflecting EDPR's focus on its core low-risk markets".

($1 = 0.9308 euros) (Reporting by Sergio Goncalves; editing by Inti Landauro and Susan Fenton)