TDCX Reports Strong Revenue Growth for Q3 2022; Reiterates 2022 Guidance

SINGAPORE–(BUSINESS WIRE)–TDCX Inc. (NYSE: TDCX) (“TDCX” or the “Firm”), an award-winning digital buyer expertise (CX) options supplier for know-how and blue-chip firms, at present introduced its unaudited monetary outcomes for the third quarter ended September 30, 2022.

Third Quarter 2022 Monetary Highlights

• Whole income of US$120.5 million, up 16.1% year-on-year
• Revenue for the interval was US$21.6 million, up 2.3% year-on-year
• Adjusted Internet Earnings⁴, which excludes the affect of share-based compensation for a like-for-like comparability, was US$24.2 million, up 15.0% year-on-year
• 12 months-to-date Internet Money from Working Actions of US$90.8 million, up 53.1% year-on-year

Mr. Laurent Junique, Chief Government Officer and Founding father of TDCX, stated, “We rounded off this quarter with a powerful set of outcomes, fueled by our strong execution capabilities. Our world enlargement plans proceed unabated with the addition of two new campuses, one in Iloilo, Philippines and one other in Istanbul, Türkiye. This brings us to a complete of 27 campuses globally as we proceed constructing our community. We additionally see better contribution from our 4 newer geographies, specifically Colombia, India, Romania and South Korea, making up near 10 per cent of the year-on-year development in income for Q3 2022 in opposition to Q3 2021.

“This quarter, we’re proud to have had our industry-leading practices acknowledged. We had been named a pacesetter by world know-how analysis and advisory agency, ISG, of their ISG Supplier Lens™ Contact Heart – Buyer Expertise Companies Singapore/Malaysia 2022 report. The report acknowledged our capabilities, positioning us on the prime of the quadrant.

“On the ESG entrance, we deepened our dedication to bringing optimistic transformation to the neighborhood with the launch of the TDCX Basis. By means of the Basis, we will assist drive better social affect for deprived communities.”

(US$ million, apart from %)2		Q3 2021			Q3 2022			% Change
Income		103.8			120.5			+16.1%
Revenue for the interval		21.1			21.6			+2.3%
Adjusted Internet Earnings4		21.1			24.2			+15.0%
Adjusted EBITDA1,3		36.9			38.3			+3.9%
Adjusted EBITDA Margins1,3 (%)		35.5	%		31.8	%

Enterprise Highlights

Sturdy Consumer Additions

• Signed up 31 new logos for the reason that begin of the 12 months, 55% increased than the 20 logos for a similar interval in 2021
• 72 purchasers with campaigns which were launched as of September 30, 2022, a 50% improve as in contrast with 48 launched purchasers as of September 30, 2021
• Income contribution from new economic system⁵ purchasers stood at 93% for 9M 2022

ESG Efforts

• Launched the TDCX Basis as a part of our dedication to help deprived communities
• Supported the launch of Google Cloud’s Level Carbon Zero Program to catalyze the incubation and adoption of local weather fintech options in Asia over the following three years
• Acknowledged as one of many Circle of Excellence Awardees for the Sustainability Firm of the 12 months on the Asia CEO Awards 2022

Full 12 months 2022 Outlook Reiterated on the Mid-point; Vary Narrowed

For the total 12 months 2022, TDCX expects its monetary outcomes to be:

2022 Outlook
Income (in hundreds of thousands)		S$655m – S$670m6 (Midpoint unchanged at S$662.5m; Vary narrowed from S$650m – S$675m)
Income development (YoY)		Vary: 18.0% – 20.7% (Midpoint unchanged at 19.3%; Vary narrowed from 17.1% – 21.6%)
Adjusted EBITDA margin1,3		Roughly 30.0% – 32.0% (unchanged)

_____________________

¹ Adjusted EBITDA or Adjusted EBITDA margins are supplemental non-IFRS monetary measures and shouldn’t be thought of in isolation or as an alternative to monetary outcomes reported beneath IFRS (see “Reconciliation of non-IFRS monetary measures to the closest comparable IFRS measures” within the Type 6-Okay or presentation slides for extra particulars).

² FX charge of US$1 = S$1.4340, being the approximate charge in impact as of September 30, 2022, assumed in changing financials from SG greenback to US greenback.

³ Adjusted EBITDA represents revenue for the interval earlier than curiosity expense, curiosity earnings, earnings tax expense, depreciation expense and equity-settled share-based fee expense incurred in reference to our Efficiency Share Plan. “Adjusted EBITDA margin” represents Adjusted EBITDA as a share of income.

⁴ “Adjusted Internet Earnings” represents revenue for the interval earlier than equity-settled share-based fee expense incurred in reference to our Efficiency Share Plan, web of any tax affect of such changes. “Adjusted Internet Earnings margin” represents Adjusted Internet Earnings as a share of income.

⁵ “New economic system” refers to excessive development industries which can be on the slicing fringe of digital know-how and are the driving forces of financial development.

⁶ Utilizing the FX charge of US$1 = S$1.4340, being the approximate charge in impact as of Sep 30, 2022, this equates to US$457m to US$467m. Utilizing the FX charge of US$1 = US$1.3918, being the approximate charge in impact as of Jun 30, 2022, this equates to US$471m to US$481m.

Webcast and Convention Name Info

The TDCX senior administration will host a convention name to debate the third quarter 2022 unaudited monetary outcomes.

A dwell webcast of this convention name can be obtainable on TDCX’s web site. Entry data on the convention name and webcast is as follows:

Date and time:		November 22, 2022, 7:30 AM (U.S. Jap Time) November 22, 2022, 8:30 PM (Singapore / Hong Kong Time)
Webcast hyperlink:		https://events.q4inc.com/earnings/TDCX/Q3-2022
Dial in numbers:		USA Toll Free: +1 855 9796 654		United States (Native): +1 646 664 1960
		Singapore: +65 3163 4602		Hong Kong: +852 580 33 413
		UK Toll Free +44 0800 640 6441		All different places: +44 20 3936 2999
Participant Entry Code:		501559

A replay of the convention name can be obtainable at TDCX’s investor relations web site (investors.tdcx.com). An archived webcast can be obtainable on the similar hyperlink above.

About TDCX INC.

Singapore-headquartered TDCX supplies transformative digital CX options, enabling world-leading and disruptive manufacturers to accumulate new clients, to construct buyer loyalty and to guard their on-line communities.

TDCX helps purchasers obtain their buyer expertise aspirations by harnessing know-how, human intelligence and its world footprint. It serves purchasers in fintech, gaming, know-how, house sharing and journey, digital promoting and social media, streaming and e-commerce. TDCX’s experience and powerful footprint in Asia has made it a trusted companion for purchasers, significantly high-growth, new economic system firms, seeking to faucet the area’s development potential.

TDCX’s dedication to delivering optimistic outcomes for our purchasers extends to its function as a accountable company citizen. Its Company Social Duty program focuses on positively remodeling the lives of its individuals, its communities and the atmosphere.

TDCX employs greater than 17,400 workers throughout 27 campuses globally, particularly Singapore, Malaysia, Thailand, Philippines, Mainland China, Hong Kong, South Korea, Japan, India, Romania, Spain, Colombia and Türkiye. For extra data, please go to www.tdcx.com.

Comfort Translation

The Firm’s monetary data is acknowledged in Singapore {dollars}, the authorized foreign money of Singapore. Until in any other case famous, all translations from Singapore {dollars} to U.S. {dollars} and from U.S. {dollars} to Singapore {dollars} on this press launch had been made at a charge of S$1.4340 to US$1.00, the approximate charge in impact as of September 30, 2022. We make no illustration that any Singapore greenback or U.S. greenback quantity may have been, or might be, transformed into U.S. {dollars} or Singapore greenback, because the case could also be, at any explicit charge, the speed acknowledged herein, or in any respect.

Non-IFRS Monetary Measure

To complement our consolidated monetary statements, that are ready and introduced in accordance with IFRS, we use the next non-IFRS monetary measure to assist consider our working efficiency:

“EBITDA” represents revenue for the interval earlier than curiosity expense, curiosity earnings, earnings tax expense and depreciation expense. “EBITDA margin” represents EBITDA as a share of income. “Adjusted EBITDA” represents revenue for the interval earlier than curiosity expense, curiosity earnings, earnings tax expense, depreciation expense and equity-settled share-based fee expense incurred in reference to our Efficiency Share Plan. “Adjusted EBITDA margin” represents Adjusted EBITDA as a share of income. We consider that EBITDA, EBITDA margin, Adjusted EBITDA and Adjusted EBITDA margin helps us to determine underlying developments in our working outcomes, enhancing our understanding of previous efficiency and future prospects.

“Adjusted Internet Earnings” represents revenue for the interval earlier than equity-settled share-based fee expense incurred in reference to our Efficiency Share Plan, web of any tax affect of such changes. “Adjusted Internet Earnings margin” represents Adjusted Internet Earnings as a share of income.

The above non-IFRS monetary measures have limitations as analytical instruments and shouldn’t be thought of in isolation or construed as a substitute for income, web earnings, or every other measure of efficiency or as an indicator of our working efficiency. The non-IFRS monetary measures introduced right here is probably not similar to equally titled measures introduced by different firms as a result of different firms could calculate equally titled measures in another way. For extra data on the non-IFRS monetary measures, please see the shape 6-Okay part captioned “Non-IFRS Monetary Measures” or the presentation slides.

Protected Harbor Assertion

This announcement incorporates forward-looking statements. These statements are made beneath the “secure harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. In some instances, you may determine these forward-looking statements by way of phrases similar to “outlook,” “believes,” “expects,” “potential,” “continues,” “could,” “will,” “ought to,” “may,” “seeks,” “predicts,” “intends,” “developments,” “plans,” “estimates,” “anticipates” or the adverse model of those phrases or different comparable phrases. Amongst different issues, the outlook for the total 12 months, the enterprise outlook and quotations from administration on this announcement, in addition to the Firm’s strategic and operational plans, include forward-looking statements. The Firm can also make written or oral forward-looking statements in its periodic experiences to the U.S. Securities and Trade Fee (the “SEC”), in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic info, together with statements in regards to the Firm’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. A variety of components may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the efficiency of TDCX’s largest purchasers; the profitable implementation of its enterprise technique; its skill to compete successfully; its skill to take care of its pricing, management prices or proceed to develop its enterprise; the results of the novel coronavirus (COVID-19) on its enterprise; the continued service of its founder and sure of its key workers and administration; its skill to draw and retain sufficient extremely skilled workers; its publicity to varied dangers in Southeast Asia; its contractual relationship with key purchasers; purchasers and potential purchasers’ spending on omnichannel CX options; its spending on worker salaries and advantages bills; and its involvement in any disputes, authorized, regulatory, and different proceedings arising out of its enterprise operations. Additional data relating to these and different dangers is included within the Firm’s filings with the SEC. All data offered on this press launch and within the attachments is as of the date of this press launch, and the Firm undertakes no obligation to replace any forward-looking assertion, besides as required beneath relevant regulation.

UNAUDITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
		For the three months ended September 30,
		2022				2021
		US$’000			S$’000				S$’000
Income		120,481			172,770				148,798
Worker advantages expense		(78,330	)		(112,325		)		(86,583	)
Depreciation expense		(7,118	)		(10,207		)		(10,409	)
Rental and upkeep expense		(1,847	)		(2,648		)		(2,063	)
Recruitment expense		(3,105	)		(4,452		)		(3,029	)
Transport and travelling expense		(269	)		(386		)		(452	)
Telecommunication and know-how expense		(2,148	)		(3,080		)		(2,413	)
Curiosity expense		(299	)		(429		)		(2,703	)
Different working expense		(3,898	)		(5,590		)		(3,972	)
Share of revenue from an affiliate		43			61				35
Curiosity earnings		860			1,233				119
Different working earnings		4,725			6,775				2,558
Revenue earlier than earnings tax		29,095			41,722				39,886
Earnings tax bills		(7,531	)		(10,799		)		(9,653	)
Revenue for the interval		21,564			30,923				30,233
Merchandise that could be reclassified subsequently to revenue or loss:
Trade variations on translation of international operations		(4,797	)		(6,880		)		(2,523	)
Whole complete earnings for the interval		16,767			24,043				27,710
Revenue attributable to:
– House owners of TDCX Inc.		21,563			30,922				30,232
– Non-controlling pursuits		1			1				1
		21,564			30,923				30,233
Whole complete earnings attributable to:
– House owners of TDCX Inc.		16,766			24,042				27,709
– Non-controlling pursuits		1			1				1
		16,767			24,043				27,710
Fundamental earnings per share (in US$ or S$) (1)		0.14			0.21				0.24
Diluted earnings per share (in US$ or S$) (1)		0.14			0.21				0.24
_______________________________ (1) Fundamental and diluted earnings per share

		For the three months ended September 30,
		2022		2021
Weighted common variety of peculiar shares for the needs of primary earnings per share		144,943,516		123,500,000
Weighted common variety of peculiar shares for the needs of diluted earnings per share		144,943,516		123,500,000

The interpretation of Singapore Greenback quantities into United States Greenback quantities (“USD”) for the unaudited condensed interim consolidated assertion of revenue or loss and different complete earnings above are included solely for the comfort of readers outdoors of Singapore and have been made on the charge of S$1.4340 to US$1.00, the approximate charge of trade at September 30, 2022. Such translations shouldn’t be construed as representations that the Singapore Greenback quantities might be transformed into USD at that or every other charge.

Comparability of the Three Months Ended September 30, 2022 and 2021

Income. Our income elevated by 16.1% to S$172.8 million (US$120.5 million) for the three months ended September 30, 2022 from S$148.8 million for the three months ended September 30, 2021 primarily as a result of a 13.0% improve in income from offering omnichannel Buyer Expertise (“CX”) options, and a 32.2% improve in income from offering gross sales and digital advertising and marketing companies.

• Our revenues from omnichannel CX options elevated by 13.0% to S$100.9 million (US$70.4 million) from S$89.3 million for a similar interval of 2021 primarily as a result of increased enterprise volumes pushed by the enlargement of present campaigns by purchasers within the fintech and know-how verticals. As well as, enterprise volumes of our key journey and hospitality purchasers proceed to realize restoration momentum following the reopening of borders through the first half of 2022.
• Our revenues from gross sales and digital advertising and marketing companies elevated by 32.2% to S$42.8 million (US$29.8 million) from S$32.4 million for a similar interval of 2021 primarily because of the enlargement of present campaigns for our key digital promoting and media purchasers.
• Our revenues from content material, belief and security companies elevated by 6.4% to S$28.1 million (US$19.6 million) from S$26.4 million for a similar interval of 2021 primarily as a result of a rise in enterprise volumes.
• Our revenues from our different service charges elevated by 38.5% to S$1.0 million (US$0.7 million) from S$0.7 million for a similar interval of 2021 primarily as a result of increased enterprise volumes from present purchasers and better contribution from new purchasers.

The next desk units forth our service offered by quantity for the three months ended September 30, 2022 and 2021.

		For the three months ended September 30,
		2022				2021
		US$’000		S$’000		S$’000
Income by service
Omnichannel CX options *		70,364		100,902		89,320
Gross sales and digital advertising and marketing		29,846		42,799		32,371
Content material, belief and security *		19,566		28,058		26,377
Different service charges * #		705		1,011		730
Whole income		120,481		172,770		148,798

* Within the second quarter of 2022, we renamed our “content material monitoring and moderation” companies as “content material, belief and security” companies which entailed some reclassification of sure of our revenues from our omnichannel CX options companies and our different service charges into content material, belief and security companies. Accordingly, we reclassified our section revenues for all intervals introduced herein on a comparable foundation besides the place in any other case famous. See “Section Reclassification” under.

^#Different service charges comprise income from different enterprise course of companies and income from different companies.

Worker Advantages Expense. Our worker advantages expense elevated by 29.7% to S$112.3 million (US$78.3 million) from S$86.6 million for a similar interval of 2021 as a result of increased worker depend, worker wage changes pursuant to dynamics of the expertise markets that we function in and price of dwelling inflation, and share-based fee expense arising from the implementation of our efficiency share plan in November 2021. Our common variety of workers within the third quarter of 2022 elevated 24.5% in comparison with the identical interval of 2021 because of enterprise volumes enlargement of present campaigns over the course of 2022, and staffing necessities of latest marketing campaign launches within the first half of 2022.

Depreciation Expense. Our depreciation expense decreased barely by 1.9% to S$10.2 million (US$7.1 million) from S$10.4 million for a similar interval of 2021 primarily as a result of sure workplace renovation belongings in Singapore, Thailand and Philippines being totally depreciated through the interval. These had been partially offset by depreciation on capital expenditures invested in new and enlargement capacities to help the expansion of our enterprise.

Rental and Upkeep Expense. Our rental and upkeep expense elevated by 28.4% to S$2.6 million (US$1.8 million) from S$2.1 million for a similar interval of 2021 primarily as a result of rental bills incurred in new web site arrange in Korea. As well as, we needed to improve our leasing of laptop gear to deal with the expansion in our key purchasers’ campaigns within the Philippines, Thailand and Malaysia.

Recruitment Expense. Our recruitment expense expanded by 47.0% to S$4.5 million (US$3.1 million) from S$3.0 million for a similar interval of 2021 primarily as a result of accelerated hiring actions thereby elevating hiring prices to help the marketing campaign wants in our Malaysia and Singapore workplaces.

Transport and Travelling Expense. Our transport and travelling expense decreased by 14.6% to S$0.4 million (US$0.3 million) from S$0.5 million for a similar interval of 2021 primarily as a result of decrease lodging and transportation bills.

Telecommunication and Expertise Expense. Our telecommunication and know-how expense elevated by 27.6% to S$3.1 million (US$2.1 million) from S$2.4 million for a similar interval of 2021 primarily in tandem with enterprise quantity enlargement of our present campaigns and new tasks’ launches.

Curiosity Expense. Our curiosity expense decreased by 84.1% to S$0.4 million (US$0.3 million) from S$2.7 million for a similar interval of 2021 primarily as a result of diminished financial institution borrowings through the interval.

Different Working Expense. Our different working expense elevated by 40.7% to S$5.6 million (US$3.9 million) from S$4.0 million for a similar interval of 2021 primarily as a result of extra charges incurred within the Philippines arising from the unit exceeding the work-from-home cap imposed by the native fiscal incentive administrative physique, and elevated authorized, compliance {and professional} charges.

Share of Revenue from an Affiliate. Our share of revenue from an affiliate was insignificant for the three months ended September 30, 2022 and 2021.

Curiosity Earnings. Our curiosity earnings elevated by 936.1% to S$1.2 million (US$0.9 million) from S$0.1 million for a similar interval of 2021 primarily as a result of a rise in interest-bearing deposits.

Different Working Earnings. Our different working earnings elevated by 164.9% to S$6.8 million (US$4.7 million) from S$2.6 million for a similar interval of 2021 primarily as a result of international trade features acknowledged.

Revenue Earlier than Earnings Tax. Because of the foregoing, our revenue earlier than earnings tax elevated by 4.6% to S$41.7 million (US$29.1 million) from S$39.9 million for the corresponding interval of 2021.

Earnings Tax Bills. Our earnings tax bills elevated by 11.9% to S$10.8 million (US$7.5 million) from S$9.7 million for a similar interval of 2021. The upper earnings tax bills had been primarily as a result of increased taxes from our subsidiary in Malaysia because of a one-off “prosperity tax” enacted by the native authorities for fiscal 2022 for the Malaysian operations, suspension of the earnings tax break beforehand availed to the Philippines unit arising from the unit exceeding the work-from-home cap imposed by the native fiscal incentive administrative physique and better taxable earnings of our subsidiaries within the Philippines and Thailand.

Revenue for the Interval. Because of the foregoing, our revenue for the interval elevated by 2.3% to S$30.9 million (US$21.6 million) from S$30.2 million for a similar interval of 2021.

Share Repurchase Program

On March 14, 2022, we introduced that the board of administrators had accepted a US$30.0 million share repurchase program. The share repurchase program commenced on March 14, 2022. The repurchase program has no expiration date and could also be suspended, modified or discontinued at any time with out prior discover. We anticipate to fund repurchases beneath this program with our present money stability.

Our proposed repurchases could also be made every now and then on the open market at prevailing market costs, in privately negotiated transactions, in block trades, and/or by different legally permissible means, relying on market situations and in accordance with relevant guidelines and laws and its insider buying and selling coverage. Our board of administrators will assessment the share repurchase program periodically and should authorize adjustment of its phrases and measurement. We didn’t make any repurchase of ADSs within the 12 months ended December 31, 2021.

From July 1, 2022 to November 21, 2022, we bought 352,489 ADSs at a value of US$3.0 million.

Warrant Settlement with Airbnb

On September 2, 2022, we entered right into a warrant settlement with Airbnb Eire Limitless Firm (“Airbnb”), whereby TDCX Inc. granted Airbnb warrants to buy as much as 490,000 of the TDCX Inc.’s American Depositary Shares topic to vesting, adjustment and different phrases and situations set forth therein. The vesting of the warrants is topic to satisfaction of sure price milestones with respect to companies offered to Airbnb beneath the Grasp Companies Settlement which commenced August 1, 2021.

Subsequent Occasion

On October 13, 2022, we accomplished the restructuring of our Hong Kong related firm right into a wholly-owned subsidiary. This was funded from our present money stability and we consider that such a restructuring allows TDCX Inc. and its subsidiaries (the “Group”) to raised faucet into alternatives within the Higher China space. The monetary affect isn’t anticipated to be materials.

Section Reclassification

Within the second quarter of 2022, we renamed our “content material monitoring and moderation” companies as “content material, belief and security” companies. The change displays the {industry}’s broader view that content material moderation companies are half of a bigger group of companies that features different belief and security associated companies and helps improve our skill to trace our efficiency.

Our content material, belief and security companies are comprised of content material moderating and monitoring companies, belief and security companies and knowledge annotation companies. Content material moderation and monitoring service entails the assessment of content material submission for violation of phrases of use or non-compliant with the specs and pointers offered by our purchasers. Belief and security companies entails our devoted and skilled sources in helping our purchasers to confirm, detect and stop incidences of fraudulent use of purchasers’ instruments in order to advertise customers’ confidence in utilizing our purchasers’ platforms and instruments. Information annotation companies offered by us serves to help the event of our purchasers’ efforts in machine studying and automation initiatives and tasks.

Income for belief and security associated companies that had been beforehand categorized beneath omnichannel CX options and different service charges respectively, which might at present be moderately recognized and quantified, will now be reported as content material, belief and security companies.

Reclassifications and comparative figures

In prior intervals, we reported international trade features or losses on a web foundation beneath “different working bills” line merchandise. Commencing from the third quarter of 2022, international trade features for the related quarter is reported beneath “different working earnings” line merchandise whereas international trade losses for the related quarter is reported beneath “different working bills” line merchandise. Accordingly, reclassifications referring to international trade features and losses have been made to prior interval’s monetary statements to allow comparability with the present interval’s monetary statements and due to this fact, sure line objects have been amended within the unaudited condensed interim consolidated assertion of revenue or loss and different complete earnings. Comparative figures have been adjusted to adapt to the present interval’s presentation. The objects had been reclassified as follows:

	Beforehand reported		After reclassification
	S$’000		S$’000
For the three months ended September 30, 2021:
Different working earnings	1,020		2,558
Different working bills	(2,434)		(3,972)
For the 9 months ended September 30, 2021:
Different working earnings	3,764		5,640
Different working bills	(8,578)		(10,454)

NON-IFRS FINANCIAL MEASURES

EBITDA, EBITDA margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Internet Earnings, Adjusted Internet Earnings margin and Adjusted EPS are non-IFRS monetary measures. TDCX screens EBITDA, EBITDA margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Internet Earnings, Adjusted Internet Earnings margin and Adjusted EPS as a result of they help the Firm in evaluating its working efficiency on a constant foundation by eradicating the affect of things in a roundabout way ensuing from its core operations.

EBITDA, EBITDA margin, Adjusted EBITDA and Adjusted EBITDA margin

“EBITDA” represents revenue for the interval earlier than curiosity expense, curiosity earnings, earnings tax expense, and depreciation expense. “EBITDA margin” represents EBITDA as a share of income. “Adjusted EBITDA” represents revenue for the interval earlier than curiosity expense, curiosity earnings, earnings tax expense, depreciation bills, and equity-settled share-based fee expense incurred in reference to our Efficiency Share Plan. “Adjusted EBITDA margin” represents Adjusted EBITDA as a share of income.

		For the three months ended September 30,
		2022									2021
		US$’000			S$’000			Margin			S$’000			Margin
Income		120,481			172,770			—			148,798			—
Revenue for the interval and web revenue margin		21,564			30,923			17.9	%		30,233			20.3	%
Changes for:
Depreciation expense		7,118			10,207			5.9	%		10,409			7.0	%
Earnings tax bills		7,531			10,799			6.3	%		9,653			6.5	%
Curiosity expense		299			429			0.2	%		2,703			1.8	%
Curiosity earnings		(860	)		(1,233	)		(0.7	%)		(119	)		(0.1	%)
EBITDA and EBITDA margin		35,652			51,125			29.6	%		52,879			35.5	%
Adjustment:
Fairness-settled share-based fee expense		2,676			3,837			2.2	%		—			—
Adjusted EBITDA and Adjusted EBITDA margin		38,328			54,962			31.8	%		52,879			35.5	%

		For the 9 months ended September 30,
		2022									2021
		US$’000			S$’000			Margin			S$’000			Margin
Income		339,923			487,449			—			400,435			—
Revenue for the interval and web revenue margin		55,737			79,928			16.4	%		74,996			18.7		%
Changes for:
Depreciation expense		20,264			29,059			6.0	%		30,248			7.6		%
Earnings tax bills		20,291			29,097			6.0	%		19,687			4.9		%
Curiosity expense		967			1,387			0.3	%		6,450			1.6		%
Curiosity earnings		(1,340	)		(1,922	)		(0.4	%)		(293	)		(0.1		%)
EBITDA and EBITDA margin		95,919			137,549			28.2	%		131,088			32.7		%
Adjustment:
Fairness-settled share-based fee expense		10,706			15,352			3.1	%		—			—
Adjusted EBITDA and Adjusted EBITDA margin		106,625			152,901			31.4	%		131,088			32.7		%

Adjusted Internet Earnings and Adjusted Internet Earnings margin

“Adjusted Internet Earnings” represents revenue for the interval earlier than equity-settled share-based fee expense incurred in reference to our Efficiency Share Plan, web of any tax affect of such changes. “Adjusted Internet Earnings margin” represents Adjusted Internet Earnings as a share of income.

		For the three months ended September 30,
		2022							2021
		US$’000		S$’000		Margin			S$’000		Margin
Revenue for the interval and web revenue margin		21,564		30,923		17.9	%		30,233		20.3	%
Adjustment for:
Fairness-settled share-based fee expense		2,676		3,837		2.2	%		—		—
Adjusted Internet Earnings and Adjusted Internet Earnings margin		24,240		34,760		20.1	%		30,233		20.3	%

		For the 9 months ended September 30,
		2022							2021
		US$’000		S$’000		Margin			S$’000		Margin
Revenue for the interval and web revenue margin		55,737		79,928		16.4	%		74,996		18.7	%
Adjustment for:
Fairness-settled share-based fee expense		10,706		15,352		3.1	%		—		—
Adjusted Internet Earnings and Adjusted Internet Earnings margin		66,443		95,280		19.5	%		74,996		18.7	%

Adjusted EPS

“Adjusted EPS” represents earnings obtainable to shareholders excluding the affect of equity-settled share-based fee expense. Adjusted EPS is calculated as earnings obtainable to shareholders excluding the affect of equity-settled share-based fee expense divided by the diluted weighted-average variety of shares excellent.

		For the three months ended September 30,
		2022								2021
		Quantity		Per Share		Quantity		Per Share		Quantity		Per Share
		US$’000		US$		S$’000		S$		S$’000		S$
Earnings obtainable to shareholders and EPS		21,563		0.14		30,922		0.21		30,232		0.24
Changes for:
Fairness-settled share-based fee expense		2,676		0.01		3,837		0.03		—		—
Earnings obtainable to shareholders after changes and Adjusted EPS		24,239		0.15		34,759		0.24		30,232		0.24

		For the 9 months ended September 30,
		2022								2021
		Quantity		Per Share		Quantity		Per Share		Quantity		Per Share
		US$’000		US$		S$’000		S$		S$’000		S$
Earnings obtainable to shareholders and EPS		55,736		0.38		79,926		0.55		74,995		0.61
Changes for:
Fairness-settled share-based fee expense		10,706		0.07		15,352		0.11		—		—
Earnings obtainable to shareholders after changes and Adjusted EPS		66,442		0.45		95,278		0.66		74,995		0.61

The Firm believes that non-IFRS monetary measures similar to EBITDA, EBITDA margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Internet Earnings, Adjusted Internet Earnings margin and Adjusted EPS assist us to determine underlying developments in our working outcomes, enhancing our understanding of previous efficiency and future prospects.

Whereas the Firm believes that the non-IFRS monetary measures present helpful data to buyers in understanding and evaluating the Firm’s outcomes of operations in the identical method as its administration, the Firm’s use of non-IFRS monetary measures have limitations as analytical instruments and you shouldn’t think about these in isolation or as an alternative to evaluation of the Firm’s outcomes of operations or monetary situation as reported beneath IFRS.

TDCX’s non-IFRS monetary measures don’t replicate all objects of earnings and expense that have an effect on the Firm’s operations or not signify the residual money circulation obtainable for discretionary expenditures. Additional, these non-IFRS measures could differ from the non-IFRS data utilized by different firms, together with peer firms, and due to this fact their comparability could also be restricted. The Firm compensates for these limitations by reconciling the non-IFRS monetary measures to the closest IFRS efficiency measure, all of which needs to be thought of when evaluating efficiency. The Firm encourages you to assessment the corporate’s monetary data in its entirety and never depend on any single monetary measure.

The interpretation of Singapore Greenback quantities into United States Greenback quantities for the unaudited condensed interim consolidated assertion of revenue or loss and different complete earnings above are included solely for the comfort of readers outdoors of Singapore and have been made on the charge of S$1.4340 to US$1.00, the approximate charge of trade at September 30, 2022. Such translations shouldn’t be construed as representations that the Singapore Greenback quantities might be transformed into USD at that or every other charge.

UNAUDITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
		For the 9 months ended September 30,
		2022			2021
		US$’000		S$’000			S$’000
Income		339,923		487,449			400,435
Worker advantages expense		(224,226	)	(321,540		)	(242,009	)
Depreciation expense		(20,264	)	(29,059		)	(30,248	)
Rental and upkeep expense		(5,084	)	(7,290		)	(7,740	)
Recruitment expense		(7,529	)	(10,797		)	(7,544	)
Transport and travelling expense		(677	)	(971		)	(985	)
Telecommunication and know-how expense		(5,963	)	(8,551		)	(6,333	)
Curiosity expense		(967	)	(1,387		)	(6,450	)
Different working expense		(9,039	)	(12,962		)	(10,454	)
Share of revenue from an affiliate		94		135			78
Curiosity earnings		1,340		1,922			293
Different working earnings		8,420		12,076			5,640
Revenue earlier than earnings tax		76,028		109,025			94,683
Earnings tax bills		(20,291	)	(29,097		)	(19,687	)
Revenue for the interval		55,737		79,928			74,996
Merchandise that could be reclassified subsequently to revenue or loss:
Trade variations on translation of international operations		1,219		1,747			(3,676	)
Whole complete earnings for the interval		56,956		81,675			71,320
Revenue attributable to:
– House owners of the Group		55,736		79,926			74,995
– Non-controlling pursuits		1		2			1
		55,737		79,928			74,996
Whole complete earnings attributable to:
– House owners of the Group		56,955		81,673			71,319
– Non-controlling pursuits		1		2			1
		56,956		81,675			71,320
Fundamental earnings per share (in US$ or S$) (1)		0.38		0.55			0.61
Diluted earnings per share (in US$ or S$) (1)		0.38		0.55			0.61
_______________________________ Fundamental and diluted earnings per share

		For the 9 months ended September 30,
		2022	2021
Weighted common variety of peculiar shares for the needs of primary earnings per share		145,425,637	123,500,000
Weighted common variety of peculiar shares for the needs of diluted earnings per share		145,425,637	123,500,000

The interpretation of Singapore Greenback quantities into United States Greenback quantities (“USD”) for the unaudited condensed interim consolidated assertion of revenue or loss and different complete earnings above are included solely for the comfort of readers outdoors of Singapore and have been made on the charge of S$1.4340 to US$1.00, the approximate charge of trade at September 30, 2022. Such translations shouldn’t be construed as representations that the Singapore Greenback quantities might be transformed into USD at that or every other charge.

UNAUDITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION
		As of September 30, 2022				As of December 31, 2021
		US$’000		S$’000		S$’000
ASSETS
Present belongings
Money and money equivalents		269,485		386,441		313,147
Fastened and pledged deposits		4,633		6,644		8,860
Commerce receivables		61,114		87,637		92,561
Contract belongings		43,409		62,249		49,365
Different receivables		9,984		14,317		13,220
Monetary belongings measured at truthful worth by revenue or loss		19,436		27,871		23,983
Earnings tax receivable		23		33		17
Whole present belongings		408,084		585,192		501,153
Non-current belongings
Pledged deposits		404		579		456
Different receivables		5,762		8,263		4,771
Plant and gear		28,517		40,893		39,709
Proper-of-use belongings		22,149		31,761		33,160
Deferred tax belongings		1,692		2,427		1,943
Funding in an affiliate		316		453		318
Whole non-current belongings		58,840		84,376		80,357
Whole belongings		466,924		669,568		581,510
LIABILITIES AND EQUITY
Present liabilities
Different payables		37,136		53,253		39,096
Financial institution loans		381		547		13,847
Lease liabilities		11,411		16,363		14,550
Provision for reinstatement price		2,369		3,397		3,663
Spinoff monetary legal responsibility		1,177		1,688		–
Earnings tax payable		12,160		17,437		14,715
Whole present liabilities		64,634		92,685		85,871
Non-current liabilities
Financial institution loans		–		–		2,963
Lease liabilities		12,779		18,325		21,361
Provision for reinstatement price		3,535		5,069		4,384
Spinoff monetary legal responsibility		2,578		3,697		–
Outlined profit obligation		1,519		2,178		1,718
Deferred tax liabilities		357		512		1,507
Whole non-current liabilities		20,768		29,781		31,933
Capital, reserves and non-controlling pursuits
Share capital		13		19		19
Reserves		160,885		230,708		227,181
Retained earnings		220,609		316,353		236,486
Fairness attributable to homeowners of the Group		381,507		547,080		463,686
Non-controlling pursuits		15		22		20
Whole fairness		381,522		547,102		463,706
Whole liabilities and fairness		466,924		669,568		581,510

The interpretation of Singapore Greenback quantities into United States Greenback quantities for the unaudited condensed interim consolidated assertion of economic place above are included solely for the comfort of readers outdoors of Singapore and have been made on the charge of S$1.4340 to US$1.00, the approximate charge of trade at September 30, 2022. Such translations shouldn’t be construed as representations that the Singapore Greenback quantities might be transformed into USD at that or every other charge.

UNAUDITED CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS
			For the 9 months ended September 30,
			2022						2021
			US$’000			S$’000			S$’000
Working actions
Revenue earlier than earnings tax			76,028			109,025			94,683
Changes for:
Depreciation expense			20,264			29,059			30,248
Acquire on early termination of right-of-use belongings			—			—			(84	)
Reversal of allowance on commerce and different receivables			—			—			(488	)
Adjustments in truthful worth of derivatives			—			—			193
Fairness-settled share-based fee expense			10,706			15,352			—
Provision for reinstatement price			694			995			(2	)
Financial institution mortgage transaction price			29			41			464
Curiosity earnings			(1,340	)		(1,922	)		(293	)
Curiosity expense			967			1,387			6,450
Retirement profit service price			395			566			464
(Acquire) / Loss on disposal of plant and gear			(1	)		(1	)		155
Share of revenue from an affiliate			(94	)		(135	)		(78	)
Working money flows earlier than actions in working capital			107,648			154,367			131,712
Commerce receivables			499			716			(22,526	)
Contract belongings			(11,283	)		(16,180	)		(3,798	)
Different receivables			(1,672	)		(2,399	)		(4,117	)
Different payables			13,547			19,427			5,493
Money generated from operations			108,739			155,931			106,764
Curiosity acquired			1,340			1,922			293
Earnings tax paid			(19,259	)		(27,617	)		(22,003	)
Internet money from working actions			90,820			130,236			85,054
Investing actions
Buy of plant and gear			(13,599	)		(19,501	)		(18,268	)
Proceeds from gross sales of plant and gear			35			50			106
Fee for restoration of workplace			—			—			(431	)
Enhance in mounted deposits			1,210			1,735			645
Enhance in pledged deposits			—			—			(12	)
Dividend earnings from affiliate			—			—			13
Funding in monetary belongings measured at truthful worth by revenue or loss			—			—			(23,754	)
Internet money utilized in investing actions			(12,354	)		(17,716	)		(41,701	)
Financing actions
Dividends paid			(29	)		(41	)		(176	)
Drawdown of financial institution mortgage			—			—			252,654
Distribution to founder			—			—			(252,033	)
Compensation of lease liabilities			(10,060	)		(14,426	)		(14,795	)
Curiosity paid			(148	)		(212	)		(5,104	)
Compensation of financial institution mortgage			(11,321	)		(16,234	)		(15,208	)
Repurchase of American Depositary Shares			(9,477	)		(13,590	)		—
Proceeds from issuance of shares			—			—			16
Internet money utilized in financing actions			(31,035	)		(44,503	)		(34,646	)
Internet improve in money and money equivalents			47,431			68,017			8,707
Impact of international trade charge adjustments on money held in foreign currency			3,681			5,277			(1,631	)
Money and money equivalents at starting of interval			218,373			313,147			59,807
Money and money equivalents at finish of interval			269,485			386,441			66,883

The interpretation of Singapore Greenback quantities into United States Greenback quantities for the unaudited condensed interim consolidated assertion of money flows above are included solely for the comfort of readers outdoors of Singapore and have been made on the charge of S$1.4340 to US$1.00, the approximate charge of trade at September 30, 2022. Such translations shouldn’t be construed as representations that the Singapore Greenback quantities might be transformed into USD at that or every other charge.