India's third-largest private lender, Axis Bank, has missed its January-March profit forecast due to lower trading income. The bank posted a 0.7% fall in standalone net profit to 70.71 billion rupees for the same period, down from 71.18 billion the previous year. Provisions and contingencies more than doubled to 35.22 rupees due to a voluntary exercise. Despite this, the bank's loans grew by 19% year-on-year and deposits rose by 14%.