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It comes in a red strain yes where the males especially show more red in the belly area. It isn't a hybrid, well at least it certainly doesn't look like one.
The red form of pulcher is a line bred (selectively bred) form of pulcher and not a hybrid (cross between 2 or moe species). Some wild pulcher come in with a great amount of red on them as well. I have a wild male from Nigeria that will glow red when he and the female are in spawn/brood care mode.