Zee Entertainment Enterprises Ltd (ZEEL) is currently the top gainer on the BSE. The stock, intra day rose over 4.5% to Rs.436.75, tantalizingly close to its 52-week high of Rs.440.30.

The market is obviously very thrilled with the company’s Q4FY16 performance where despite the trying times, it has managed to post a good performance. It posted a net profit at Rs.261 crore, up 13% (YoY) on a 13% rise in total income at Rs.1532 crore. Its EBITDA rose by a very healthy 53% at Rs.413 crore and margins showed a smart rise up from 20.1% to 27%. The higher tax outgo, up 38% dented the bottomline a bit.

The good news in Q4 was that its advertising revenue showed a better-than-expected growth of 29% at Rs.864 crore – it added 56% to total revenue in FY16 and subscription revenue rose 16% at Rs.511 crore. Other income though showed a drop of 19% at Rs.46 crore.

The company expects advertising revenue to moderate in FY17 and expects it to grow around 15-16%. The company is doubling its investment in the movie business to Rs.160 crore.