CESC Ventures, which got listed on 25 January 2019. Generation and revenue remained flat; however, EBITDA came in below our expectations due to higher operating expenses and fuel costs. PAT was marginally above our estimate on favorable rate-regulated income. In Q3FY19, PLF improved across the Haldia and Chandrapur plants, driven largely by the festive season which led to a rise in power demand. The Chandrapur plant's case IV PPA with MSPGCL was extended by another 45 days until January 13, 2019. We expect Chandrapur's loss to narrow to Rs1.2bn in FY19 from Rs2.0bn in FY18....