Kotak Mahindra Bank reported a 26% year-on-year rise in standalone net profit for the June quarter, helped by a sharp decline in provisions and steady loan growth, even as net interest margin remained under pressure.The private sector lender posted a profit after tax of ₹4,123 crore for the quarter ended June 30, compared with ₹3,282 crore a year earlier.Net interest income (NII) rose 9% year-on-year to ₹7,928 crore from ₹7,259 crore, while operating profit increased 10% to ₹6,131 crore.Net interest margin (NIM) stood at 4.53% during the quarter, compared with 4.65% a year ago and 4.67% in the preceding quarter. The bank management said margins have largely stabilised after adjusting for the seasonality in the March quarter.Provisions declined 45% year-on-year to ₹668 crore from ₹1,208 crore, while annualised credit cost improved to 46 basis points from 93 basis points a year earlier.Net advances grew 15% year-on-year to ₹5.12 lakh crore as of June-end, while customer assets, including credit substitutes, rose 16% to ₹5.71 lakh crore.The lender saw 15% growth in its corporate loan book and is one of the focus segments of the bank. It wants to keep this segment growing in line with the market.Deposits grew 12% YoY to ₹5.73 lakh crore where CASA ratio moderated to 40.3% from 40.9% a year ago. Asset quality improved during the quarter with gross NPAs declined to 1.18% from 1.48% a year earlier, while net NPAs fell to 0.27% from 0.34%.Slippages dropped 27% year-on-year to ₹1,321 crore, and the provision coverage ratio improved to 78%. However, fresh slippages rose sequentially to ₹1,321 crore from ₹1,018 crore.Bank's capital adequacy ratio was at 22.8% and a common equity tier-1 ratio of 22.4%. On a consolidated basis, Kotak Mahindra Bank reported a 23% rise in net profit to ₹5,480 crore from ₹4,472 crore a year earlier.