Jagran Prakashan, the Indian newspaper publisher in which Independent News & Media has a 20.8% stake, has reported a 6.6% drop in profit for its last financial year.
Net profit for the year was €14.1m, despite a rise of almost 10% in revenue to €126.5m.
JP publishes Dainik Jagran, as the number one newspaper in India with a total readership of 54.6 million readers.
Advertising revenue at the company rose by 10.6% in the year, while circulation revenue was up 7.8%.
