India's Axis Bank reported a 4% year-on-year rise in third-quarter profit on Thursday, helped by higher core lending income.

The Mumbai-based private lender's standalone net profit - which excludes its subsidiaries - rose 4 per cent to Rs 6,304 crore

Operating profit climbed 15.23% to Rs 10,533 crore in the last quarter against Rs 9141.24 crore in the third quarter of the previous fiscal. The earnings were announced after market hours today. Axis Bank stock closed 1.

India's Axis Bank reported a smaller-than-expected rise in third-quarter profit on Thursday, as it set aside more funds for potential bad loans amid a slight deterioration in asset quality. The country's fourth-largest private lender by market capitalisation said its standalone net profit - which excludes earnings of its subsidiaries - rose 4% to 63.