May 16 (Reuters) - Brazilian retailer Magazine Luiza SA posted on Monday a first quarter adjusted net loss of 98.8 million reais ($19.60 million), after reporting a net profit a year ago.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 1.7% year-on-year to 434.2 million reais, beating a Refinitiv forecast of 339.8 million reais.

($1 = 5.0410 reais) (Reporting by Carolina Pulice Editing by Chris Reese)