India's Axis Bank misses profit forecast on lower trading income

India's Axis Bank reported a 0.7% decline in Q4 profit to 70.71 billion rupees, missing analyst expectations of 73.16 billion rupees. The drop was attributed to a nearly 77% fall in treasury operations' pre-tax profit and increased provisions, which more than doubled to 35.22 billion rupees. Despite these challenges, loans grew 19% year-on-year, and deposits rose 14%. The bank's net interest income increased by 5% to 144.57 billion rupees, while its gross non-performing asset ratio improved to 1.23%.