Barclays has retained its "overweight" recommendation on Bharti Airtel, after the company announced its fourth quarter result, with a target price of 440 rupees.
The brokerage believes that improving subscriber additions could turn revenue growth dynamics in the company's favour. Also, the cancellation of some operators' second-generation licences will help competitive dynamics and allow Bharti Airtel the flexibility to balance pricing and volume.
The company reported a consolidated net profit of 10.06 bln rupees against an estimate of 12.46 bln rupees, and income from operations of 187.29 bln rupees.
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