SEC Filings

6-K
WNS (HOLDINGS) LTD filed this Form 6-K on 08/06/2018
Entire Document
 


Table of Contents

General and Administrative Expenses

The following table sets forth the composition of our general and administrative expenses for the periods indicated:

 

     Three months ended June 30,        
     2018     2017     Change  
     (US dollars in millions)  

Employee costs

   $ 21.2     $ 20.2     $ 1.0  

Other costs

     6.7       7.3       (0.6
  

 

 

   

 

 

   

 

 

 

Total general and administrative expenses

   $ 27.9     $ 27.5     $ 0.4  
  

 

 

   

 

 

   

 

 

 

As a percentage of revenue

     14.0     15.3  

The increase in general and administrative expenses was primarily due to (i) an increase in employee costs as a result of higher salaries on account of higher headcount, wage inflation and higher share-based compensation, and (ii) an appreciation of the pound sterling and the South African rand against the US dollar by an average of 6.7% and 4.3%, respectively, for the three months ended June 30, 2018 as compared to the respective average exchange rates for the three months ended June 30, 2017, which resulted in an increase of approximately $0.2 million. This increase in general and administrative expenses was partially offset by a decrease in other costs as a result of lower other miscellaneous costs, lower legal and professional costs, lower travel cost, and lower facilities cost, and a depreciation of the Indian rupee against the US dollar by an average of 3.8% for the three months ended June 30, 2018 as compared to the average exchange rate for the three months ended June 30, 2017, which resulted in a decrease of approximately $0.4 million.

Foreign Exchange Loss / (Gains), Net

The following table sets forth our foreign exchange loss / (gains), net for the periods indicated:

 

     Three months ended June 30,         
     2018      2017      Change  
     (US dollars in millions)  

Foreign exchange loss / (gains), net

   $ (1.3    $ (4.8    $ 3.5  

The foreign exchange gains were lower primarily due to a higher loss of $11.7 million from our US dollar denominated hedges as a result of a depreciation of the pound sterling against the US dollar and our rupee denominated hedges as a result of an appreciation of the pound sterling and the US dollar against the Indian rupee, partially offset by a higher foreign currency revaluation gain of $8.2 million arising from $6.5 million of gain for the three months ended June 30, 2018 as against a loss of $1.7 million for the three months ended June 30, 2017.

Amortization of Intangible Assets

The following table sets forth our amortization of intangible assets for the periods indicated:

 

     Three months ended June 30,         
     2018      2017      Change  
     (US dollars in millions)  

Amortization of intangible assets

   $ 3.9      $ 3.9      $ 0.0  

Amortization of intangible assets was flat as compared to that for the three months ended June 30, 2017.

 

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