WNS(US:WNS)2025-02-06 14:30Financial Position - As of December 31, 2024, total assets amounted to $1,409,773,000, a decrease from $1,434,073,000 as of March 31, 2024[23] - Total current liabilities decreased to $285,753,000 from $312,028,000, representing a reduction of about 8.5%[23] - Shareholders' equity decreased to $763,112,000 from $787,308,000, a decline of approximately 3.1%[23] - Retained earnings increased to $1,156,213,000 from $1,034,388,000, showing a growth of about 11.8%[23] - As of December 31, 2024, total cash, cash equivalents, and restricted cash amounted to $108,535, an increase from $94,284 as of March 31, 2024, representing a 15% growth[169] - Accounts receivable and unbilled revenue totaled $222,255 as of December 31, 2024, down from $232,347 as of March 31, 2024, indicating a decrease of approximately 4.3%[170] - The total operating lease liabilities decreased from $189,880 as of March 31, 2024, to $181,902 as of December 31, 2024, reflecting a reduction of about 4.2%[171] - Long-term debt increased from $139,204 as of March 31, 2024, to $199,575 as of December 31, 2024, marking a significant rise of approximately 43.4%[176] Revenue and Income - Revenue for the three months ended December 31, 2024, was $332,963 thousand, a 2.2% increase from $326,203 thousand in the same period of 2023[26] - Net income for the three months ended December 31, 2024, was $48,573 thousand, compared to $41,537 thousand for the same period in 2023, reflecting a 16.3% increase[29] - Operating income for the three months ended December 31, 2024, was $45,237 thousand, up from $39,388 thousand in the prior year, representing a 14.7% increase[26] - Basic earnings per share for the three months ended December 31, 2024, was $1.12, compared to $0.88 for the same period in 2023, indicating a 27.3% increase[26] - Net income for the nine months ended December 31, 2024, was $119,283, a decrease of 10% compared to $132,943 in 2023[37] - The company reported a total employee benefit cost of $601,488,000 for the nine months ended December 31, 2024, compared to $625,474,000 for the same period in 2023, reflecting a decrease of about 3.8%[205] Cash Flow and Investments - Net cash provided by operating activities increased to $153,767, up 10% from $139,624 in the previous year[37] - Cash flows used in investing activities improved to a net outflow of $3,201, compared to a net outflow of $25,252 in the prior year[37] - The company made a payment of $35,501 for property and equipment and intangible assets, down from $43,844 in the previous year[37] - The company has implemented a share buyback program, purchasing 1,000,000 treasury shares during the three months ended December 31, 2024[31] Acquisitions and Goodwill - The Company acquired The Smart Cube Limited on December 16, 2022, enhancing its capabilities in high-end procurement and advanced analytics[138] - The total consideration for the acquisition of The Smart Cube was $121,643, including a contingent consideration of $15,761 payable over 2 years and 5 months linked to target revenues and adjusted EBITDA[139] - Goodwill from the acquisition of The Smart Cube amounted to $86,444, primarily due to expected synergies and assembled workforce[146] - The acquisition of OptiBuy sp. z.o.o. was for a total consideration of €30,192 ($31,756), including a contingent consideration of €5,800 ($6,103) payable over 2 years and 3 months[150] - Goodwill from the acquisition of OptiBuy was $25,627, also attributed to expected synergies and assembled workforce[158] - The total consideration for the acquisition of Vuram Technology Solutions was $170,347, including a contingent consideration of $21,670 payable over 18 months[162] - Goodwill from the acquisition of Vuram was $110,714, reflecting expected synergies and assembled workforce[168] Financial Reporting and Compliance - The company transitioned to US GAAP for financial reporting starting from the quarter ended June 30, 2024, impacting comparability with previous reports[16] - The company has chosen to voluntarily file reports with the SEC, indicating a strategic shift in compliance and reporting practices[15] Risks and Strategic Initiatives - The company faces various risks including currency fluctuations and competition in the BPM industry, which could impact future performance[21] - The company plans to continue investing in new technologies and market expansion strategies to drive future growth[26] - The company has made strategic acquisitions to expand its service offerings and market share, although specific details are not provided in the content[21] Employee Obligations and Compensation - Total current employee obligations increased from $91,996,000 as of December 31, 2024 to $105,352,000 as of March 31, 2024, reflecting a rise of approximately 14.4%[205] - Salaries and bonuses for the three months ended December 31, 2024 were $202,384,000, compared to $205,461,000 for the same period in 2023, indicating a slight decrease of about 1.0%[205] - The net periodic cost for the defined benefit plan for the three months ended December 31, 2024 was $1,381,000, up from $990,000 in the same period of 2023, representing an increase of approximately 39.4%[207] Derivatives and Foreign Exchange - The company’s primary exchange rate exposure is with the US dollar and pound sterling against the Indian rupee, managing risks through derivative instruments[196] - The notional value of outstanding foreign exchange forward contracts increased to $869,247,000 as of December 31, 2024, compared to $671,800,000 as of March 31, 2024[197] - The total unrealized loss recognized in other comprehensive income for derivatives in cash flow hedging relationships was $(108,000) for the three months ended December 31, 2024[199]