WNS Reports Higher Net Income Under US GAAP

WNS (Holdings) Limited ("WNS" or "the company") has reported its unaudited fiscal 2024 and 2023 results under US Generally Accepted Accounting Principles (GAAP), transitioning from reporting under the International Financial Reporting Standards (IFRS). The impact of this transition is evident in the financial metrics presented in the supplementary financial information package.

Net income as per IFRS for the fiscal year ended March 31, 2024, was $140,148, while under US GAAP, it stood at $147,477. The net impact of US GAAP adjustments for the same period amounted to $7,329.

In terms of diluted earnings per ordinary share, the impact of US GAAP adjustments is noticeable. For the year ended March 31, 2024, diluted earnings per ordinary share under IFRS was $2.83, whereas under US GAAP, it increased to $2.99.

The transition to US GAAP also affected the diluted weighted average number of equity shares. For the period from April 1, 2023, to March 31, 2024, the diluted weighted average number of equity shares under US GAAP decreased from 49,755,508 to 49,311,774, reflecting the impact of the adjustment.

The impact of the transition is also evident in the reconciliation of net income and shareholders' equity, with significant adjustments recorded for lease accounting, employee benefits, and income tax expenses.

WNS (Holdings) Limited (NYSE: WNS) is a leading business process management (BPM) company that has undergone a significant shift in its financial reporting framework, with notable impacts on key financial metrics. The market has reacted to these announcements by moving the company's shares 0.0% to a price of $53.92. For the full picture, make sure to review WNS ('s 8-K report.

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