Mumbai, May 10 (IANS): Jubilant FoodWorks (JFL), which operates pizza vendor Domino's, Thursday posted an increase of 52 percent in net profit at Rs.29.3 crore for the quarter ended March 31, driven by an increase in sales and expanded store network.

The net profit during the same period of the previous financial year stood at Rs.19.3 crore, the company said in a statement.

The total income stood at Rs.284.87 crore during the quarter under review up 46.4 percent against Rs.194.6 crore during the year ago period.

During the year ended March 31, 2012, the company posted an increase of 47 percent in net profit at Rs.105.64 crore against Rs.72 crore during the year ended March 31, 2011.

The total income during the period under review stood at Rs.1,023.3 crore up 50.5 percent against Rs.680 crore during the previous year.

"Through out the quarter, we continued to stay focussed on sustained and disciplined investment in our growth initiatives, which has enabled us to yield healthy results for all our stakeholders," said Ajay Kaul, chief executive officer (CEO), Jubilant FoodWorks.

"The progress we are making is very encouraging, particularly as we continue to invest in new stores and offerings," he added.

The firm plans to set up 90 new stores Domino's stores in India in the current financial year and 10 new stores for Dunkin' Donuts. It has planned an investment of Rs.150 crore during the current fiscal.

JFL had entered into an alliance with Dunkin' Donuts early last year to develop and operate the brand's restaurant in India.

At the Bombay Stock Exchange, the shares of the company closed 1.84 percent at Rs.1,050.90.