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MOSCOW, April 28 (Reuters) - Russia's biggest search site Yandex said on Tuesday its first-quarter net profit fell 21 percent, year-on-year, to 2.1 billion roubles ($40.5 million) due to an increase in personnel and rent expenses.

The company also said it expected revenue growth to slow to 9-12 percent in the second quarter after a 13 percent year-on-year increase in January-March, citing a challenging macroeconomic situation. ($1 = 51.8000 roubles) (Reporting by Maria Kiselyova, editing by Elizabeth Piper)