(Corrects headline to show profit rose, not rose/fell)

MADRID (Reuters) - Zara owner Inditex said on Wednesday its net income for 2023 rose to 5.4 billion euros as the fast-fashion giant bet on upmarket shoppers and offered more competitive prices than rivals such as H&M.

The company's profit for the fiscal year ending in January was in line with analyst expectations in an LSEG poll.

(This story has been corrected to specify that profit rose, in the headline)

(Reporting by Corina Pons; Writing by Charlie Devereux)