Independent is on my neck for getting them more. They want us to reach any level of government for facilitating a higher stake in Jagran Prakashan. So there is no issue here for us. We don't want to keep everything confined at 26% only and my belief is, when you are opening up the economy, there should not be any ceiling as such, whether FDI or FII stake in the print media, Jagran Prakashan CFO R K Agarwal told Moneycontrol.

Interestingly, Jagran is very close to start printing the fascimile edition of Independent in India. "At the moment we are almost finalizing the printing of the facsimile edition of the Independent," Mr Agarwal says.

He is very vociferous in his views on FII/FDI entry into the print media and advocates that if not an increase in FDI, the government should at least remove the ceiling on FII investments, as they are not strategic but moot investors.

"At least FII investment should not be clubbed together with the FDI category for the simple reason that FIIs are moot investors who are simply investing and not interfering in day-to-day matters. In case of FDI, one can argue that there are issues relating to the editorial, there are issues related to pollution of youth by western culture, if 100% investment in form of FDI is allowed in the print media," Mr Agarwal argues.

On pulling up great numbers in FY06, Mr Agarwal attributes the increase in net profit from Rs 1.32 crore in FY05 to Rs 32 crore in FY06 to increase in the advertisement revenue and circulation. Along with it, an increase in per copy realization and cost optimization undertaken by Jagran also helped. He is also optimistic about a 25% jump in advertising revenues in FY07 believes that the same momentum will continue in the years to come.

Excerpts from Moneycontrol's exclusive interview with R K Agarwal:

Q: Jagran Prakashan reported a huge leap in net profits from Rs 1.23 crore in FY05 to Rs 32.04 crore in FY06. Do you think this kind of momentum in earnings can be sustained going forward this year and in the next year?