UPDATE 1-Chipotle 1st-qtr profit up; new openings fuel sales

(Adds revenue, forecast, comparable sales, share price)

LOS ANGELES, April 23 (Reuters) - Chipotle Mexican Grill Inc (CMG.N) reported higher quarterly profit on Wednesday, topping Wall Street estimates, as new restaurant openings fueled higher sales at the fast-growing chain.

The Mexican-themed, fast-food chain known for serving naturally raised meat also boosted its 2008 forecast for comparable-restaurant sales to an increase in the mid-single digits from the low- to mid-single digits in percentage terms.

First-quarter net income rose to $17.3 million, or 52 cents per share, from the year-earlier $12.4 million, or 38 cents per share.

Revenue advanced 29 percent to $305.3 million as a higher restaurant count from the year-ago quarter expanded the comparable-store base. Comparable-restaurant sales rose 10 percent from the 2007 first quarter due to an increase in customer visits, the company said.

Analysts, on average, expected net earnings of 48 cents per share on revenue of $298.9 million, according to Reuters Estimates.

Its shares rose 3 percent to $113.30 in after-hours trade after closing down 2.9 percent at $109.90 Wednesday on the New York Stock Exchange. (Reporting by Lisa Baertlein and Gina Keating; Editing by Gary Hill/Jeffrey Benkoe)