SEC Filings

6-K
WNS (HOLDINGS) LTD filed this Form 6-K on 01/31/2019
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 December 31,        
     2018     2017     Change  
     (US dollars in millions)  

Employee costs

   $ 21.4     $ 22.7     $ (1.3

Other costs

     6.7       5.6       1.1  
  

 

 

   

 

 

   

 

 

 

Total general and administrative expenses

   $ 28.2     $ 28.3     $ (0.2
  

 

 

   

 

 

   

 

 

 

As a percentage of revenue

     14.1     15.0  

As a percentage of revenue less repair payments (non-GAAP)

     14.4     15.3  

The decrease in general and administrative expenses was primarily due to (i) a decrease in employee costs as a result of lower salaries, lower share-based compensation expense and (ii) a depreciation of the Indian rupee, the South African rand, and Philippine peso against the US dollar by an average of 11.3%, 4.8%, and 4.5%, respectively, for the three months ended December 31, 2018 as compared to the respective average exchange rates for the three months ended December 31, 2017, which resulted in a decrease of approximately $1.3 million. This decrease in general and administrative expenses was partially offset by higher other costs, higher legal and professional costs, higher facilities cost, and higher travel costs.

Foreign Exchange Loss / (Gains), Net

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

 

     Three months ended December 31,         
     2018      2017      Change  
     (US dollars in millions)  

Foreign exchange loss / (gains), net

   $ (1.9    $ (4.4    $ 2.5  

The foreign exchange gains were lower primarily due to a lower gain of $3.6 million from our rupee denominated hedges as a result of an appreciation of the US dollar and pound sterling against the Indian rupee, partially offset by a higher foreign currency revaluation gain of $1.1 million arising from $1.7 million of loss for the three months ended December 31, 2018 as against a loss of $2.8 million for the three months ended December 31, 2017. Further, foreign exchange gains of $1.9 million for the three months ended December 31, 2018 excludes a loss of $0.03 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:

 

     Three months ended December 31,         
     2018      2017      Change  
     (US dollars in millions)  

Amortization of intangible assets

   $ 3.9      $ 3.9      $ 0.0  

The amortization of intangible assets was flat as compared to that for the three months ended December 31, 2017.

 

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