Q4 2023 HDFC Bank Ltd Earnings Call Transcript
Ladies and gentlemen, good evening, and welcome to HDFC Bank Limited Q4 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, and a warm welcome to all the participants.
Let's look at the key macro indicators observed during the quarter before we get to the details on the earnings. Various indicators suggest economic activity was holding up well in Q4. GST collections continue to be robust. March '23 recorded 13% growth year-on-year. Full year 2023 GST collections recorded a growth of 21%. Manufacturing PMI at 56.4% has remained in the expansionary zone since July '21. Services activity is holding up well. Services PMI at 57.8% continues to remain strong. Healthy trend in government capital spending augurs
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