|WNS (HOLDINGS) LTD filed this Form 6-K on 08/06/2018|
WNS (HOLDINGS) LIMITED
NOTES TO UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
(Amounts in thousands, except share and per share data)
Revenues from the geographic segments are based on the domicile of the customer. The Companys external revenue by geographic area is as follows:
The Company has entered into various non-cancelable operating lease agreements for certain delivery centers and offices with original lease periods expiring between 2019 and 2028 that are renewable on a periodic basis at the option of the lessor and the lessee and include rent escalation clauses. The details of future minimum lease payments under non-cancelable operating leases as at June 30, 2018 are as follows:
Rental expenses charged to the consolidated income statement were $9,148 and $7,987 for the three months ended June 30, 2018 and 2017, respectively.
As at June 30, 2018 and March 31, 2018, the Company had committed to spend approximately $7, 947 and $5,762, respectively, under agreements to purchase property and equipment. These amounts are net of capital advances paid in respect of these purchases.
Bank guarantees and others
Certain subsidiaries of the Company hold bank guarantees aggregating $2,320 and $2,579 as at June 30, 2018 and March 31, 2018, respectively. These guarantees have a remaining expiry term ranging from one to five years.
Restricted time deposits placed with bankers as security for guarantees given by them to regulatory authorities aggregating $578 and $575 as at June 30, 2018 and March 31, 2018, respectively, are included in other assets. These deposits represent cash collateral against bank guarantees issued by the banks on behalf of the Company to third parties.
In the ordinary course of business, the Company is involved in lawsuits, claims and administrative proceedings. While uncertainties are inherent in the final outcome of these matters, the Company believes, after consultation with counsel, that the disposition of these proceedings will not have a material adverse effect on the Companys financial position, results of operations or cash flows.
In July 2018, the Company repurchased 408,142 ADSs for a total consideration of $20,673 (including transaction costs of $4), in the open market, authorized under its current share repurchase program. The shares underlying these ADSs are recorded as treasury shares.