|WNS (HOLDINGS) LTD filed this Form 20-F on 05/16/2018|
Segment profit in the WNS Global BPM segment decreased by 1.3% to $102.1 million in fiscal 2017 from $103.5 million in fiscal 2016. The decrease in profit was primarily attributable to higher cost of revenue, higher general and administrative expenses, higher selling and marketing expenses, and higher finance expense, partially offset by higher segment revenue, higher foreign exchange gain and higher other income, net.
The other income, net increased by $0.3 million in fiscal 2017 to $7.8 million from $7.5 million in fiscal 2016 primarily due to higher cash and cash equivalents and investments, partially offset by lower interest yield and earnings due to funds utilized for our share repurchases in fiscal 2017.
The finance expense for fiscal 2017 was $0.5 million as compared to $0.3 million in fiscal 2016 primarily due to interest on long term loans availed during the year for the acquisition of Denali and HealthHelp.
Provision for income taxes in fiscal 2017 was $17.4 million as compared to $20.9 million in fiscal 2016. Provision for income taxes was lower primarily on account of a one-time benefit of $1.2 million resulting from a delivery location becoming profitable and reversal of a tax provision of $1.5 million pertaining to previous fiscal years during fiscal 2017.