4QFY18 profit +51% QoQ as coal shortage related losses shrink NTPC's 4QFY18 adjusted net profit stood at INR 34bn (+5% YoY), a jump of 51% QoQ as losses from coal related shortage have halved to INR 2.5bn from 3Q18. As highlighted in our earlier reports, the issues related to coal shortages in newly-commissioned plants has been arrested as reflected in Mar-April'17 plant availability (PAF). We expect the coal situation to improve by 1H19 given efforts by NTPC and measures taken by Power, Coal and Railway Ministries (detailed report). The current scenario of rising power demand strengthens our long-term thesis of NTPC benefitting from capacity additions and improving PLFs. We expect...