The conglomerate, which keeps its books in U.S. dollars, said the profit attributable to shareholders amounted to 51 cents per diluted share compared with $722 million or 60 cents per share a year ago.
Revenue totalled $4.95 billion, up from $4.04 billion.
Funds from operations were $689 million, up from $515 million in the first quarter of 2012.
"Our operating performance was strong in the first quarter of 2013, with virtually all of the operations contributing growth," Brookfield chief executive Bruce Flatt said in a statement.
"Performance was good across our operations, contributing to a significant increase in our cash flow."
Brookfield manages more than $175 billion in assets with a focus on real estate, renewable power, infrastructure and private equity.