DUBLIN—Ryanair on Monday reported its first quarterly profit since before COVID-19, but downgraded its annual forecast to a loss of up to 200 million euros ($231 million) on plans to sell discounted tickets over the winter and higher fuel costs. Europe’s largest budget airline, which operated more flights this summer than any European rival, posted a profit of 225 million euros for the three months to the end of September, marking its first quarterly profit since October–December 2019. But the Dublin-based airline said it expected a loss of between 100 million and 200 million euros for the financial year that ends on March 31. While that is better than the 815 million euro loss posted in the previous year, it is a downgrade from its July forecast of “somewhere between a small loss and breakeven.” “There is no doubt that the remainder of the fiscal year will be challenging, the …