New Delhi, Oct. 24 -- India's Kotak Mahindra Bank reported a higher-than-expected quarterly profit on ​Saturday, driven by stronger loan demand and lower ‌provisions for bad loans.

The country's third-largest private lender by market capitalisation posted a stand-alone net profit of 42.11 billion Indian ​rupees ($443.5 million) for the three months ended September, ​up from 32.53 billion rupees for the same period last year.

Analysts had ⁠expected a profit of 41.04 billion rupees, according to ​data compiled by LSEG.

Indian banks experienced strong loan growth during the financial second quarter ​across both corporate and retail segments, with lending against foreign-currency non-resident depos...