TDCX Q4 Profit Rises 27.8 Pct To US$24.2 Mln

KUALA LUMPUR, March 7 (Bernama) -- TDCX Inc (TDCX), an award-winning digital customer experience (CX) solutions provider, posted a profit of US$24.2 million for the fourth quarter (Q4) ended Dec 31, 2023, representing a 27.8 per cent increase from US$19.0 million in the corresponding quarter of previous year. (US$1=RM4.71)

In a statement, TDCX said the increase is primarily driven by cost optimisation efforts, lower tax, higher interest income and a net reversal of equity settled share-based payment expense.

However, its revenue for the quarter declined 10.1 per cent year-on-year, or down 5.3 per cent in constant currency terms to US$120.4 million, which included a 4.8 per cent point negative impact of foreign exchange rates compared with the prior year period.

TDCX Chief Executive Officer and Founder, Laurent Junique said market uncertainties and a challenging macroeconomic environment continue to dampen business sentiment.

“This has had a knock-on impact on TDCX. Despite these pressures, we delivered within our guidance, and remain focused on the long term, particularly on improving our operations and delivering client value propositions,” he said.

The company has sustained its client growth, with client count up 15 per cent year-on-year, bringing the total to 97 as of Dec 31, 2023, compared with 84, same period, the previous year.

Meanwhile, newly launched clients in the fourth quarter last year include a global digital payments company and a professional chauffeur portal.

TDCX has also improved revenue diversification, whereby revenue from clients outside the top five rose 44 per cent year-on-year, while revenue mix from top five clients lowered to 73 per cent, for the financial year 2023, from 81 per cent, same period, a year prior.

Singapore-headquartered TDCX provides transformative digital CX solutions, enabling world-leading and disruptive brands to acquire new customers, to build customer loyalty and to protect their online communities.

-- BERNAMA