NTPC reported Q4FY17 results, which were above our estimates operationally. However, a one-time loss of | 783 crore made PAT look optically below our estimates Reported revenues were at | 20416.7 crore vs. estimate of | 18898 crore. Revenue beat was due to better-than-expected energy sold. The company sold 59.6 billion units in Q4FY17 vs. our estimate of 58.1 billion units. PLFs of coal plants were at 81% vs. 77% in Q3FY17 EBITDA came in at | 6203.5 crore vs. our estimate of | 5265 crore....