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.

Rising bond yields and volatility in the rupee during the quarter weighed on treasury income at the Mumbai-based lender, tempering earnings even as lending ​expanded across segments.

Banks across India reported strong loan growth during the ‌quarter across corporate and retail portfolios.

Net interest income grew 11.8 per cent to ₹15,371 crore, ‌helped by a 23 per cent rise in total loans. Deposits increased ‌20.7 per cent from a year earlier.

Provisions for potential bad loans and other contingencies fell 52.2 per cent to ‌₹1,694 crore.

The ​gross non-performing asset ratio stood at 1.16 per cent at end-September, compared with 1.28 per cent three months earlier.