SEC Filings

6-K
WNS (HOLDINGS) LTD filed this Form 6-K on 01/31/2019
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 December 31,      Nine months ended December 31,  
     2018      2017      2018      2017  

Jersey, Channel Islands

   $ —      $ —      $        $ —  

North America (primarily the US)

     81,559        76,814        244,981        225,516  

UK

     62,576        60,650        192,734        190,658  

Australia

     20,866        19,475        58,329        49,833  

Europe (excluding UK)

     13,908        13,100        38,291        34,688  

South Africa

     8,921        10,378        29,661        31,682  

Rest of the world

     11,916        8,181        34,642        22,869  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 199,746      $ 188,598      $ 598,638      $ 555,246  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

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 December 31, 2018 are as follows:

 

Tenure

   Operating leases  

Less than 1 year

   $ 28,410  

1-3 years

     50,659  

3-5 years

     36,749  

More than 5 years

     28,434  
  

 

 

 

Total minimum lease payments

   $ 144,252  
  

 

 

 

Rental expenses charged to the consolidated income statement were $8,825 and $8,370 for the three months ended December 31, 2018 and 2017, respectively and $26,803 and $24,779 for the nine months ended December 31, 2018 and 2017, respectively.

Capital commitments

As at December 31, 2018 and March 31, 2018, the Company had committed to spend approximately $6,030 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 $1,343 and $2,579 as at December 31, 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 $563 and $575 as at December 31, 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