SEC Filings

20-F
WNS (HOLDINGS) LTD filed this Form 20-F on 05/16/2018
Entire Document
 


Table of Contents

Other income, net

The following table sets forth our other income, net for the periods indicated:

 

     Year ended March 31,         
     2017      2016      Change  
     (US dollars in millions)  

Other income, net

   $ (8.7    $ (8.5    $ (0.2

Other income was higher primarily due to higher cash and cash equivalents and investments partially offset by lower interest yield and earnings due to reduced funds as funds were utilized for our share repurchases in fiscal 2017.

Finance Expense

The following table sets forth our finance expense for the periods indicated:

 

     Year ended March 31,         
     2017      2016      Change  
     (US dollars in millions)  

Finance expense

   $ 0.5      $ 0.3      $ 0.2  

Finance expense increased primarily on account of interest on long term loans obtained during the year to fund our acquisitions of Denali and HealthHelp.

Provision for Income Taxes

The following table sets forth our provision for income taxes for the periods indicated:

 

     Year ended March 31,         
     2017      2016      Change  
     (US dollars in millions)  

Provision for income taxes

   $ 17.5      $ 21.2      $ (3.7

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.

Profit

The following table sets forth our profit for the periods indicated:

 

     Year ended March 31,        
     2017     2016     Change  
     (US dollars in millions)  

Profit

   $ 37.8     $ 59.9     $ (22.1

As a percentage of revenue

     6.3     10.7  

As a percentage of revenue less repair payments (non-GAAP)

     6.5     11.3  

The decrease in profit was primarily on account of lower operating profit and higher finance expense, partially offset by lower provision for income taxes and higher other income. Our acquisitions in fiscal 2017 contributed to a decrease in profit primarily due to transaction and integration costs. Value Edge contributed $0.2 million to our profit for fiscal 2017, but HealthHelp generated a loss of $0.3 million and Denali generated a loss of $0.2 million for fiscal 2017.

 

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