Kotak Mahindra Bank announced a 35% increase in its consolidated net profit for the January-March quarter to ₹ 2,589.3 crore on core income growth, and noted that loan exposure at the lower end of the consumer loan spectrum is a difficult segment amid the pandemic.

On a stand-alone basis, it reported a 32.8% rise in net profit to ₹ 1,682.4 crore for the quarter, while annual profit for FY21 rose 17% to ₹ 6,965 crore.

Net interest income for the quarter increased to ₹ 3,843 crore from ₹ 3,560 crore in the period of the previous year, thanks to a 1.8% increase in the overall loan portfolio. The bank’s non-interest income increased to ₹ 1,950 crore.