TDCX Inc. (NYSE:TDCX) Q3 2023 Results Conference Call November 21, 2023 7:30 PM ET
Company Participants
Jason Lim - Head, IR
Laurent Junique - Executive Chairman, Founder and CEO
Tze Neng Chin - CFO
Edward Goh - EVP, Corporate Development
Conference Call Participants
KC Ong - CGS-CIMB
Ranjan Sharma - JPMorgan
Han Tan - HSBC
Operator
Ladies and gentlemen, welcome to the TDCX Q3 2023 Results Announcement. My name is Neil, and I will be coordinating your call today. [Operator Instructions]
I will now hand you over to your host, Jason Lim from TDCX, to begin. Jason, please go ahead.
Jason Lim
Hello, everyone, and welcome to TDCX Third Quarter 2023 Earnings Conference Call. My name is Jason Lim, the Head of Investor Relations. Joining us on the call today is our Executive Chairman, Founder and CEO, Mr. Laurent Junique; our CFO, Mr. Chin Tze Neng; and our EVP of Corporate Development, Mr. Edward Goh.
Before we continue, I would like to remind you that we will make forward-looking statements, which are subject to risks and uncertainties that may not be realized in the future. You should not place any reliance on any forward-looking statements.
Also, this call includes the discussion of certain non-IFRS financial measures, such as adjusted EBITDA and constant currency revenue growth. For reconciliation to the closest IFRS measures, please refer to the Form 6-K, which is available on our website.
We have prepared a convenient translation for Singapore dollar to the U.S. dollar at a rate of $1 to SGD 1.3648. This should not be construed as representation that any Singapore dollar amount can be converted to USD at this or any other rate.
With that, let me hand over the call to Laurent. Laurent, please?
Laurent Junique
Hello, everyone, and thank you for joining us today. Before I begin, I'd like to thank our team members across the TDCX global network for their exceptional efforts and our clients and investors for their continued trust and support.
In the third quarter, TDCX delivered a solid revenue of $120 million, which is stable on a constant currency basis. We also demonstrated improved operating rigor as we delivered Q3 adjusted EBITDA margins of 27.8%, a testament to the success of our ongoing cost optimization initiatives. This compares with 25.9% in Q2 2023.
Profit for the period was $23 million, an increase of 2.3% year-on-year. This means we are very much on track to meet our guidance for the year. I would say that the overall business continues to be strong and resilient. Notably, if you were to exclude revenue from our top client, revenues from the rest of the business would have grown in the low teens percentage year-on-year for Q3 2023 compared to Q3 2022. This demonstrates a very healthy performance against the backdrop of a really tough operating environment, which speaks to the way we continue to deliver excellence for our clients.