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:

 

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

Employee costs

   $ 64.7     $ 66.1     $ (1.4

Other costs

     19.2       21.0       (1.8
  

 

 

   

 

 

   

 

 

 

Total general and administrative expenses

   $ 83.9     $ 87.1     $ (3.2
  

 

 

   

 

 

   

 

 

 

As a percentage of revenue

     14.0     15.7  

As a percentage of revenue less repair payments

     14.3     16.0  

The decrease in general and administrative expenses was primarily due to a decrease in other costs as a result of lower legal and professional costs, lower travel costs, lower other costs, and lower employee costs as a result of lower share-based compensation expense, partially offset by higher facilities cost and higher salaries on account of wage inflation. The decrease in general and administrative expenses was also contributed by a depreciation of the Indian rupee, South African rand, and Philippine peso against the US dollar by an average of 8.1%, 2.6%, and 5.0%, respectively, for the nine months ended December 31, 2018 as compared to the respective average exchange rates for the nine months ended December 31, 2017, which resulted in a decrease of approximately $2.8 million.

Foreign Exchange Loss/(Gains), Net

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

 

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

Foreign exchange loss / (gains), net

   $ (5.0    $ (13.5    $ (8.5

The foreign exchange gains were lower primarily due to a higher loss of $22.6 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 a depreciation of the US dollar and pound sterling against the Indian rupee, partially offset by a higher foreign currency revaluation gain of $14.1 million arising from a $10.2 million gain for the nine months ended December 31, 2018 as compared to a loss of $3.9 million for the nine months ended December 31, 2017. Further, foreign exchange gains of $5.0 million for the nine months ended December 31, 2018 excludes a loss of $1.0 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:

 

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

Amortization of intangible assets

   $ 11.9      $ 11.5      $ 0.4  

The increase in amortization of intangible assets was primarily attributable to an increase in amortization of software costs.

Operating Profit

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

 

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

Operating profit

   $ 87.5     $ 65.5     $ 22.0  

As a percentage of revenue

     14.6     11.8  

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

     14.9     12.1  

 

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