SEC Filings

6-K
WNS (HOLDINGS) LTD filed this Form 6-K on 11/05/2018
Entire Document
 


Table of Contents

WNS (HOLDINGS) LIMITED

NOTES TO UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands, except share and per share data)

 

External revenue

Revenues from the geographic segments are based on the domicile of the customer. The Company’s external revenue by geographic area is as follows:

 

     Three months ended September 30,      Six months ended September 30,  
     2018      2017      2018      2017  

Jersey, Channel Islands

   $ —      $ —      $        $ —  

North America (primarily the US)

     83,641        75,631        163,422        148,702  

UK

     63,920        63,915        130,158        130,007  

Australia

     17,799        16,839        37,463        30,358  

Europe (excluding UK)

     12,540        11,737        24,383        21,588  

South Africa

     9,831        10,795        20,739        21,304  

Rest of the world

     11,386        7,608        22,727        14,689  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 199,117      $ 186,525      $ 398,892      $ 366,648  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

28.

Commitment and contingencies

Operating leases

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 September 30, 2018 are as follows:

 

Tenure

   Operating leases  

Less than 1 year

   $ 27,108  

1-3 years

     46,467  

3-5 years

     30,962  

More than 5 years

     20,300  
  

 

 

 

Total minimum lease payments

   $ 124,837  
  

 

 

 

Rental expenses charged to the consolidated income statement were $8,830 and $8,422 for the three months ended September 30, 2018 and 2017, respectively and $17,978 and $16,409 for the six months ended September 30, 2018 and 2017, respectively.

Capital commitments

As at September 30, 2018 and March 31, 2018, the Company had committed to spend approximately $2,229 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 $2,224 and $2,579 as at September 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 $564 and $575 as at September 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.

Contingencies

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 Company’s financial position, results of operations or cash flows.

 

48