BY CHRISTOPHER BJORK

MADRID — Spanish retailer Inditex SA, the owner of Zara, on Thursday stepped up its commitment to expand in fast-growing Asian markets as it reported a smaller-than-expected 1% drop net profit in for the first nine months of the year.

Inditex Chief Executive Pablo Isla said the fashion company expects roughly half of all new Zara store openings in the next few years to be in Asia, with a particular focus on China. The company also plans to open its first Zara in India early next year, he said, with five openings planned within a year, first in New Delhi …