Bakery and dairy products maker Britannia Industries today reported a 5.34% rise in net profit at Rs 56.96 crore for the third quarter ended December 31, 2012.

The company had posted a net profit of Rs 54.07 crore in the same period of previous fiscal.

Net sales of the company rose to Rs 1,453.33 crore for the third quarter, as compared to Rs 1,243.99 crore in the same period of 2011-12 fiscal, Britannia Industries said in a statement.

"Our growth momentum is solid with 16.4% increase in revenue during this quarter. We continue to invest in our brands and infrastructure to drive profitable growth," Britannia Industries Managing Director Vinita Bali said.

Shares of Britannia today closed at Rs 465 on the BSE, up 0.03% from its previous close.