|WNS (HOLDINGS) LTD filed this Form 6-K on 11/05/2018|
General and Administrative Expenses
The following table sets forth the composition of our general and administrative expenses for the periods indicated:
The decrease in general and administrative expenses was primarily due to (i) a decrease in employee costs as a result of lower share-based compensation expense, partially offset by higher salaries on account of higher headcount, and wage inflation; lower legal and professional costs, lower other costs, and lower travel costs, and (ii) a depreciation of the Indian rupee, the South African rand, and Philippine peso against the US dollar by an average of 9.1%, 7.2%, and 5.4%, respectively, for the three months ended September 30, 2018 as compared to the respective average exchange rates for the three months ended September 30, 2017, which resulted in a decrease of approximately $1.1 million. This decrease in general and administrative expenses was partially offset by higher facilities cost.
Foreign Exchange Loss / (Gains), Net
The following table sets forth our foreign exchange loss / (gains), net for the periods indicated:
The foreign exchange gains were lower primarily due to a higher loss of $7.2 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 and pound sterling against the Indian rupee, partially offset by a higher foreign currency revaluation gain of $4.8 million arising from $5.3 million of gain for the three months ended September 30, 2018 as against a gain of $0.5 million for the three months ended September 30, 2017. Further, foreign exchange gains of $1.9 million for the three months ended September 30, 2018 excludes a loss of $1.2 million reported in revenue due to the adoption of IFRS 9, previously reported in foreign exchange loss / (gains), net.
Amortization of Intangible Assets
The following table sets forth our amortization of intangible assets for the periods indicated:
The increase in amortization of intangible assets was primarily attributable to an increase in amortization of software costs.