India's third-largest private lender, Kotak Mahindra Bank, saw a 13% increase in its standalone net profit to 40.27 billion rupees for the quarter ending March 31, beating analysts' expectations of 37.37 billion. The bank's net advances expanded 16% from the previous year, mainly driven by retail and corporate loans. Total deposits also rose by 15%. The lender's gross non-performing asset ratio fell to 1.2% at the end of the year, from 1.5% to 1.,09.