Jul 20, 2022 / NTS GMT
Operator
Ladies and gentlemen, good day, and welcome to IndusInd Bank Limited Q1 FY '23 Earnings Conference Call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Sumant Kathpalia, Managing Director and CEO, IndusInd Bank. Thank you, and over to you, sir.
Sumant Kathpalia - IndusInd Bank Limited - MD, CEO & Additional Director
Good evening, and thank you for joining the call. Let me start with some macro commentary and then go into bank-specific details.
During the quarter 1 financial year '23, we saw economic activity, momentum picking up sharply as well as headwinds to growth rising as well. The services PMI index signaled a very strong improvement in private services activity while manufacturing sector activity levels were stable.
Prospects of the farm sector also looked better with the timely onset of monsoon and output last year, touching another record.
Bank credit uptake too picked up over the quarter, in line with an improvement in the underlying economic activity.
Q1 2023 Indusind Bank Ltd Earnings Call Transcript
Jul 20, 2022
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