Losses persist; Earnings to normalize from FY17E KSK reported 58.6% yoy robust growth in its net sales in 1QFY16 on account of higher PLF from Wardha Warora plant. Though KSK displayed good show from sales front but it continued to report losses at Rs2,719mn in 1QFY16 (our expectation was net loss of Rs1,655 mn) vs net loss of Rs1,161mn in 1QFY15 owing to losses incurred by Mahanadi & Wardha Warora power plants, higher interest charges (up...