India's Bharti Hexacom falls; Citi flags lower-than-expected subscriber additions
BUZZ-India's Bharti Hexacom falls; Citi flags lower-than-expected subscriber additions ** Shares of Bharti Hexacom BHAX.NS down 3.3% at 1,562.90 rupees
** Telecom firm's consol June-qtr profit rises 23.2% to 4.82 billion rupees ($50.62 million), rev from ops up 10.9% to 25.1 billion rupees
** Citi ("Neutral"; PT: 1,715 rupees) says sequential revenue growth in co's homes segment came in below brokerage's estimates on lower-than-expected subscriber additions
** Says co's operating profit was in line with estimates despite revenue beating estimates, as higher access charges, which are usually paid to other telecom operators for connecting calls, data, or messages, weighed
** Stock rated "Buy" on average by 14 analysts; median PT at 1,860 rupees - LSEG-compiled data
** YTD, stock down 14.2%
($1 = 95.2125 Indian rupees)
(Reporting by Mridula Kumar in Bengaluru)
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