Adani Power (APL) has reported consolidated profit of Rs1.0bn, after 11 quarters of consecutive losses, in 3QFY16 due to one-time recovery of compensatory tariff of Rs1.28bn & Interest cost saving of Rs3bn on account of 5/25 scheme. More than past 11 quarters, Adani power has been reporting dismal numbers due to lack of adequate coal supply from Bunyu mines thus forcing it to blend expensive spot coal inventory and higher import of coal due to limited availability of domestic coal. However, in the last 15-18 months as the stock price has been corrected to more than 60%, we believe negatives are factored in the current...