Q3 2023 HDFC Bank Ltd Earnings Call Transcript
Ladies and gentlemen, good evening, and welcome to HDFC Bank Limited Q3 FY'23 earnings conference call on the financial results presented by the management of HDFC Bank. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Srinivasan Vaidyanathan, Chief Financial Officer, HDFC Bank. Thank you, and over to you, sir.
Okay. Thank you, Tanvi. Good evening. Welcome to all the participants. Greetings of the New Year. Now let's start with some context on the environment that we operated in the quarter that gives a background of how we operated. High frequency indicators suggest that domestic economic activity held up in Q3. GST collections continued to be robust, remained above INR 1.4 lakh crores since May '22. In December, GST collections stood at INR 1.5 lakh crores compared to INR 1.3 lakh crores in the prior year December. Manufacturing PMI has remained in the expansionary zone and is at 57.8 as of December and also the services PMI is at a 6
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