NTPC reported weak Q3FY18 results that were below our estimates. Reported revenues came in at | 20,774 crore vs. estimate of | 20,902 crore. Lower revenues were on account of lower realisations per unit (| 3.2 per unit vs. expectation of | 3.3 per unit). The company generated 63.3 billion units (BU) in Q3FY18 vs. our estimate of 63 BU. Plant load factor (PLFs) of coal plants was at 76.9% vs. 77.2% in Q3FY17. The plant availability factor (PAF) for coal based plants was at 83% while the same was at 94.5% for Q3FY18...