Provisions for potential bad loans and other contingencies fell 52.2 per cent to ₹1,694 crore | Image: Bloomberg
Indian private-sector lender Axis Bank reported on Saturday a quarterly profit that narrowly missed analyst expectations, as higher operating expenses and weaker other income offset robust credit growth and lower provisions.
Axis Bank, the country's third-largest private bank by assets, posted a stand-alone net profit of ₹7,003 crore ($737.5 million) for the quarter ended on September 30, compared with ₹5,090 crore a year earlier.
Analysts, on average, had forecast a profit of ₹7,124 crore, according to LSEG-compiled data.
Other income, which includes earnings from bonds and other investments, fell 1.4 per cent to ₹6,531 crore.