|WNS (HOLDINGS) LTD filed this Form 20-F on 05/16/2018|
Other income, net
The following table sets forth our other income, net for the periods indicated:
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.
The following table sets forth our finance expense for the periods indicated:
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:
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.
The following table sets forth our profit for the periods indicated:
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.