SEC Filings

6-K
WNS (HOLDINGS) LTD filed this Form 6-K on 01/31/2019
Entire Document
 


Table of Contents

Operating Profit

The following table sets forth our operating profit for the periods indicated:

 

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

Operating profit

   $ 33.4     $ 25.7     $ 7.7  

As a percentage of revenue

     16.7     13.6  

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

     17.0     13.9  

Operating profit as a percentage of revenue and revenue less repair payments (non-GAAP) was higher due to higher revenues, lower cost of revenue as a percentage of revenue and revenue less repair payments (non-GAAP), lower general and administrative expenses as a percentage of revenue and revenue less repair payments (non-GAAP), and lower selling and marketing expenses as a percentage of revenue and revenue less repair payments (non-GAAP), partially offset by lower foreign exchange gains.

Other Income, net

The following table sets forth our other income, net for the periods indicated:

 

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

Other income, net

   $ (3.6    $ (2.5    $ (1.2

Other income was higher primarily due to a movement from dividend scheme to growth scheme in relation to our liquid mutual fund investments and higher yield on our cash and cash equivalents and investments.

Finance Expense, Net

The following table sets forth our finance expense, net for the periods indicated:

 

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

Finance expense, net

   $ 0.8      $ 1.0      $ (0.2

Finance expense, net decreased primarily on account of principal repayment on loans resulting in lower interest on lower principal amounts outstanding on long term loans taken for the acquisition of Denali and HealthHelp.

Income tax expense

The following table sets forth our income tax expense for the periods indicated:

 

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

Income tax expense

   $ 7.6      $ 0.9      $ 6.7  

The increase in income tax expense is primarily due to higher taxable profits and on account of a lower non-recurring tax benefit of $4.8 million due to a benefit of $0.4 million for the three months ended December 31, 2018 as compared to a benefit of $5.2 million for the three months ended December 31, 2017 arising from the 2017 US Tax Reforms that reduced US corporate tax rate on our deferred tax balances.

 

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