May 3 (Reuters) - Brazilian broker XP Inc overcame a difficult economic backdrop to post a 17% jump in first-quarter adjusted profit on Tuesday as assets under custody jumped and more users took to its services.

The country's largest brokerage said its assets under custody rose 22% in the quarter to 873 billion reais ($175.69 billion) as people ploughed money into its diverse range of products, such as bonds, derivatives, and pension funds.

That helped offset a 28% drop in retail daily average trades brought by a worsening economic outlook for emerging markets in light of the war in Ukraine and tightening monetary policy globally.

XP's net inflows of 46 billion reais were also 4% lower than the previous quarter, while the total purchase value on XP's credit card rose by a marginal 2.2% sequentially as customers cutback on spending due to rising inflation.

"We had a super challenging macro scenario," Chief Financial Officer Bruno Constantino said, citing the impact from the Omicron variant of COVID-19 and the war in Ukraine.

Constantino also mentioned what he called a "portfolio effect," with clients looking for more fixed income assets rather than riskier assets such as stocks, which faced greater volatility in the period.

In the three months ended March 31, XP's loan book expanded by 12% to 11.5 billion reais as it continued to increase its banking services, while active client numbers rose 17%.

The company's adjusted net income jumped 17% to 987 million reais on the back of a 19% rise in net revenue.

($1 = 4.9614 reais) (Reporting by Manya Saini in Bengaluru and Aluisio Alves in Sao Paulo; Editing by Aditya Soni)