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Jagran Prakashan Limited, which publishes India's largest circulated Hindi daily Dainik Jagran has posted a business hike of 16.36% on its previous year's revenue for recently commenced quarter first for current fiscal year. Operating revenue of Rs.269.82 crores has been reported by the company in its recent filing.

The net profit stood at Rs 55.60 crore, while the EPS for the quarter was at Rs 1.85, an increase of 12.80 per cent over Q1 of FY10.

On the contrary, amid money making headlines of Jagran Prakashan, Independent News & Media Investment, the shareholder company in the largest circulated daily of country, Dainik Jagran is reportedly selling an equity of 6.5% in it. The value of this possible deal has been estimated at Rs.200 crores.

INM possessed a stake of 26% in the year 2005. By then, on regular intervals it had sold stake in Jagran. A total of 14.8% stake worth Rs.410 crores had been sold by INM in two phases last year.

INM has been hitting the news for regularly posting loss in its prominent newspaper 'Independent' in the UK. It had also sold the newspaper business to Alexander Lebedev.