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India's Axis Bank quarterly profit rises 37.6%, but misses estimates on higher costs
MUMBAI: 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 70.03 billion Indian rupees ($737.5 million) for the quarter ended on September 30, compared with 50.90 billion rupees a year earlier. Analysts, on average, had forecast a profit of 71.24 billion rupees, according to LSEG-compiled data. Other income, which includes ear...
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