CESC reported better-than-expected Q3FY17 results on account higher-than-expected traded volume from the subsidiary. The power purchase from subsidiary increased 23% YoY to 129 crore units Lower fuel costs in the base business also helped EBITDA and profitability. The base business saw a decline in generation to the tune of 26.8% YoY to 117 crore unit. Revenues came in at | 1620 crore vs. our estimate of | 1542.5 crore Absolute EBITDA came in at | 315 crore, which was in line with our...