MEXICO CITY (Reuters) - Mexican conglomerate Alfa posted a 41 percent decline in first-quarter net profit on Wednesday due to higher taxes and financial costs amid an acquisition spree.

Alfa (ALFAA.MX: Quote, Profile, Research) said January-March net profit fell to 719 million pesos ($68 million) from 1.217 billion pesos a year earlier. Revenue rose 36 percent to 29.710 billion pesos, reflecting expansion of the company's businesses.

Alfa, which makes auto parts, petrochemicals and processed foods, said net profit was lower because of a 472 million peso financing expense and higher taxes, which it did not quantify.

"Alfa achieved solid sales growth during the first quarter due to the good performance of its petrochemicals and high-tech aluminum auto parts companies, which were able to sell more products," the Monterrey-based company said.

Core earnings before interest, taxes, depreciation and amortization rose 23 percent to 2.845 billion pesos.

Shares of Alfa were up 0.94 percent to 75.49 pesos.

($1 = 10.642 at end March)

(Reporting by Chris Aspin; editing by John Wallace)