|WNS (HOLDINGS) LTD filed this Form 6-K on 01/31/2019|
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 December 31, 2018 are as follows:
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.
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.
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.