7Baggers
Quarterly
Annual
    Unit: USD2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-09-30 2013-06-30 2013-03-31 2012-12-31 2012-09-30 2012-06-30 2012-03-31 2011-06-30 2011-03-31 2010-12-31 2010-09-30 2010-06-30 2010-03-31 2009-12-31 2009-09-30 2009-06-30 2009-03-31 2008-12-31 2008-09-30 2008-06-30 2008-03-31 2007-12-31 2007-03-31 2006-12-31 
      
    		                                                                       
      cash flows from operating activities:
    		                                                                       
      net income
    		21,750,000 50,831,000 48,573,000 41,788,000 28,922,000                                                                   
      adjustments to reconcile net income to net cash from operating activities:
    		                                                                       
      depreciation and amortization
    		15,855,000 14,614,000 14,138,000 13,975,000 13,865,000                                                 10,883,000                  
      share-based compensation expense
    		11,672,000 9,443,000 8,618,000 8,326,000 11,155,000                                                                   
      amortization of debt issuance cost
    		125,000 100,000 108,000 109,000 90,000                                                                   
      allowance for expected credit losses
    		165,000  97,000 288,000 586,000                                                                   
      unrealized foreign currency exchange gain
    		-233,000                                                                       
      income from mutual funds
    		-2,295,000 -2,604,000 -2,335,000 -2,779,000 -2,814,000                                                                   
      (gain) /loss on sale of property and equipment
    		-7,000                                                                       
      deferred tax benefit
    		-3,997,000  -705,000 -4,258,000 -2,291,000                                                                   
      unrealized loss on derivative instruments
    		2,858,000    3,214,000                                                                   
      reduction in carrying amount of operating lease right- of-use assets
    		8,246,000                                                                       
      changes in operating assets and liabilities, net of effects of acquisitions:
    		                                                                       
      account receivables and unbilled revenue
    		-16,911,000 -10,223,000 11,933,000 -1,558,000 -3,398,000                                                                   
      other assets
    		-2,178,000 4,530,000 -6,246,000 -4,323,000 -4,826,000                                                                   
      account payables
    		-4,432,000 2,622,000 3,563,000 -2,557,000 -1,425,000                                                                   
      contract liabilities
    		2,560,000 -390,000 9,380,000 -2,654,000 4,569,000                                                                   
      other liabilities
    		-5,807,000 4,769,000 10,602,000 15,224,000 -29,996,000                                                 20,000                  
      operating lease liabilities
    		-6,179,000 -8,259,000 -6,266,000 -7,964,000 -6,872,000                                                                   
      income taxes payable
    		8,307,000 -4,235,000 -360,000 -10,369,000 7,858,000                                                                   
      net cash from operating activities
    		29,499,000 53,394,000 88,735,000 43,624,000 21,408,000 67,630,000 73,651,000 68,456,000 19,500,000 84,329,000 70,294,000 34,499,000 15,839,000 67,921,000 56,900,000 47,312,000 15,321,000 75,587,000 56,281,000 56,724,000 25,134,000 68,645,000 62,464,000 45,513,000 51,999,000 44,939,000 59,487,000 30,571,000 14,657,000 39,826,000 38,349,000 44,041,000 14,092,000 30,710,000 25,780,000 17,963,000 17,682,000 31,575,000 27,717,000 26,581,000 16,994,000 28,819,000 28,064,000 25,450,000 13,205,000 25,378,000 22,581,000 25,295,000 8,137,000 17,865,000 25,777,000 15,007,000 6,162,000 16,308,000 2,334,000 14,640,000 12,185,000 4,466,000 4,515,000 7,550,000 15,212,000 24,096,000 7,417,000 22,456,000 26,886,000 15,567,000 -2,012,000 20,321,000 5,278,000 12,943,000 18,513,000 
      capex
    		0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -4,667,000 -10,749,000 -9,215,000 -5,854,000 -9,039,000 -11,515,000 -7,276,000 -7,379,000 -3,409,000 -6,905,000 -5,174,000 0 -3,615,000 -6,635,000 -8,598,000 -5,447,000 -5,305,000 -8,348,000 -3,868,000 0 0 0 0 0 -5,818,000 -7,572,000 -4,393,000 0 -6,752,000 0 0 0 0 0 0 0 0 0 0 0 0 0 -7,385,000 -4,458,000 -6,603,000 
      free cash flows
    		29,499,000 53,394,000 88,735,000 43,624,000 21,408,000 67,630,000 73,651,000 68,456,000 19,500,000 84,329,000 70,294,000 34,499,000 15,839,000 67,921,000 56,900,000 47,312,000 15,321,000 75,587,000 56,281,000 56,724,000 25,134,000 68,645,000 62,464,000 45,513,000 51,999,000 44,939,000 54,820,000 19,822,000 5,442,000 33,972,000 29,310,000 32,526,000 6,816,000 23,331,000 22,371,000 11,058,000 12,508,000 31,575,000 24,102,000 19,946,000 8,396,000 23,372,000 22,759,000 17,102,000 9,337,000 25,378,000 22,581,000 25,295,000 8,137,000 17,865,000 19,959,000 7,435,000 1,769,000 16,308,000 -4,418,000 14,640,000 12,185,000 4,466,000 4,515,000 7,550,000 15,212,000 24,096,000 7,417,000 22,456,000 26,886,000 15,567,000 -2,012,000 20,321,000 -2,107,000 8,485,000 11,910,000 
      cash flows from investing activities:
    		                                                                       
      payment for property and equipment and intangible assets
    		-14,834,000 -18,616,000 -12,090,000 -12,688,000 -10,723,000 -10,439,000 -10,271,000 -15,734,000 -17,839,000 -14,715,000 -11,422,000 -7,909,000 -10,905,000 -7,437,000 -6,123,000 -7,075,000 -7,692,000 -5,589,000 -8,016,000 -6,476,000 -6,449,000 -4,646,000 -4,806,000 -7,606,000 -10,802,000                                               
      proceeds from sale of property and equipment
    		11,000 20,630,000 48,000 90,000 82,000 144,000 125,000 81,000 194,000 61,000 81,000 378,000 48,000 93,000 258,000 39,000 11,000 157,000 4,000 21,000 7,000 26,000 5,000 46,000 5,000 17,000 6,000 74,000 23,000 83,000 136,000 123,000 25,000 65,000 43,000 306,000 29,000 0 156,000 116,000 57,000 242,000 105,000 142,000 117,000 3,000 7,000 0 49,000 84,000 63,000 97,000 52,000  67,000 90,000 61,000             1,748,000 51,000 
      investment in fixed deposits
    		-7,059,000 -6,104,000 -4,522,000 -1,391,000 -6,384,000 -3,676,000 -11,614,000 -7,269,000 -21,717,000 -4,000,000 -7,934,000 -25,075,000 -39,544,000 -30,645,000 -22,267,000 -32,106,000 -14,454,000 -36,450,000 -13,714,000 -14,108,000 -9,464,000 -14,865,000 -18,425,000 -27,245,000 -15,442,000 -8,875,000 -6,914,000 -4,574,000 -7,536,000 -12,427,000                                          
      proceeds from maturity of fixed deposits
    		6,230,000 2,435,000 2,238,000 5,677,000 11,237,000 4,790,000 8,235,000 21,731,000 7,008,000 20,435,000 39,841,000 24,853,000 28,947,000 40,090,000 17,916,000 18,632,000 18,468,000 27,795,000 20,025,000 23,825,000 10,947,000 12,912,000 11,826,000 10,825,000 7,695,000 6,941,000 8,096,000 9,220,000 7,079,000                                           
      mutual funds sold/
    		38,942,000                                                                       
      net cash provided by/(used in) investing activities
    		23,290,000                        21,466,000   12,703,000 -19,699,000          -23,731,000                                 
      cash flows from financing activities:
    		                                                                       
      payment for repurchase of shares
    		-75,373,000 0 0 -71,728,000 -77,951,000 -71,549,000 -58,131,000 0 -85,622,000 0 0 -30,421,000 -51,210,000 0 0 0 -85,038,000 -50,863,000     0 -15,737,000 -48,000,000                                               
      repayment of long-term debt
    		-21,128,000 -8,000,000 -20,448,000 -8,000,000 -10,539,000 -8,000,000 -10,537,000 -8,000,000 -10,604,000     -8,400,000 0   -8,400,000 0   -14,150,000 0   -14,050,000 0                                             
      proceeds from long-term debt
    		 35,000,000 0 0 100,000,000     0 100,936,000                                                             
      proceeds from short-term borrowings
    		40,000,000 40,000,000 0 29,000,000 33,000,000                                                                   
      payment of debt issuance cost
    		-184,000 -35,000 -1,000 -138,000 -284,000     -647,000                    0 0 -56,000 -298,000                  0 -110,000 -133,000 -49,000 -39,000 -22,000 -181,000 -356,000 -534,000 0 -40,000 0 -47,000         
      net cash (used in)/provided by financing activities
    		-56,685,000                                                                       
      effect of exchange rate changes on cash, cash equivalents and restricted cash*
    		236,000 -308,000 -4,922,000 459,000 -113,000                                                                   
      net change in cash, cash equivalents and restricted cash
    		-3,660,000 5,512,000 8,507,000 8,707,000 -2,963,000                                                                   
      cash, cash equivalents and restricted cash at the beginning of the period
    		114,047,000  0 0 94,284,000                                                                   
      cash, cash equivalents and restricted cash at the end of the period
    		110,387,000  8,507,000 8,707,000 91,321,000                                                                   
      supplemental cash flow information:
    		                                                                       
      cash paid for interest
    		3,768,000 28,410,000 -4,323,000 -5,129,000 -3,220,000                                                                   
      cash paid for income taxes
    		5,706,000                                                                       
      supplemental disclosure of non-cash investing and financing activities:
    		                                                                       
      (i) liability towards property and equipment and intangible assets purchased on credit
    		10,121,000  -1,148,000 -265,000 8,919,000    9,298,000 5,746,000 1,315,000 497,000 4,815,000 3,091,000   7,462,000    4,331,000 3,225,000 109,000 -3,134,000 6,114,000 3,146,000 54,000 -1,410,000 4,324,000  -796,000 -3,238,000 6,354,000                                       
      (ii) lease liabilities arising from obtaining operating lease right-of-use assets
    		27,456,000 19,243,000 10,583,000 1,631,000 5,428,000                                                                   
      impairment of intangible assets
    		                                                                       
      allowance/
    		                                                                       
      unrealized foreign currency exchange loss/(gain)
    		                                                                       
      fair-value changes on contingent consideration
    		 -238,000 -13,716,000                                                                     
      gain on sale of property and equipment
    		                                                     53,000                  
      deferred income tax benefit
    		                                                                       
      unrealized (gain)/loss on derivative instruments
    		                                                                       
      reduction in the carrying amount of operating lease right-of-use assets
    		                                                                       
      cash flows from investing activities
    		                                                                       
      deferred consideration paid toward acquisition of molips
    		                                                                       
      payment for business transfer
    		         0                                                              
      acquisition of vuram, net of cash acquired
    		         0                                                              
      acquisition of optibuy, net of cash acquired
    		         160,000                                                              
      acquisition of the smart cube, net of cash acquired
    		         4,000                                                              
      acquisition of kipi.ai, net of cash acquired
    		                                                                       
      proceeds from working capital adjustment on acquisition of vuram
    		     0 0                                                                 
      proceeds from working capital adjustment on acquisition of optibuy
    		     0                                                                  
      proceeds from working capital adjustment on acquisition of the smart cube
    		      0                                                                 
      mutual funds sold
    		 -21,163,000 119,000                                                                     
      other investment
    		                                                                       
      proceeds from redemption of mutual funds
    		                                                                       
      net cash from investing activities
    		     951,000 -16,309,000   -43,315,000   137,339,000 -25,149,000   67,127,000 -52,105,000 -13,726,000 -36,773,000 9,827,000 -32,783,000 -54,432,000   -31,385,000    -14,825,000 -43,301,000 -2,471,000 17,014,000 -150,972,000 19,689,000 -27,917,000 27,933,000     -17,173,000 -2,689,000 -6,120,000 -14,263,000      -38,805,000   -18,046,000 -6,685,000 -4,699,000 -3,636,000 -4,379,000 -2,702,000 -4,160,000 -434,000 -5,677,000 5,761,000 -15,499,000 -13,762,000 -261,995,000 -24,362,000 -15,669,000 -7,450,000 -14,853,000 -6,552,000 
      cash flows from financing activities
    		                                                                       
      payment of transaction charges toward exercise of rsus
    		                                                                       
      contingent consideration paid toward acquisition of optibuy
    		                                                                       
      contingent consideration paid toward acquisition of the smart cube
    		                                                                       
      transaction charges on cancellation of treasury shares
    		         0                                                              
      repayment of short-term borrowings
    		 -25,000,000 -38,000,000                                                                     
      net cash (used in) / provided by financing activities
    		                                                                       
      cash, cash equivalents and restricted cash at the beginning of the period/year
    		                                                                       
      cash, cash equivalents and restricted cash at the end of the period/year
    		                                                                       
      (i) liability toward property and equipment and intangible assets purchased on credit
    		                                                                       
      unrealized foreign currency exchange (gain)
    		    -4,412,000                                                                   
      (gain)/loss on sale of property and equipment
    		                                                                       
      unrealized loss/(gain) on derivative instruments
    		  8,610,000                                                                     
      proceeds from working capital adjustment on acquisition of smartcube
    		                                                                       
      deferred consideration paid towards acquisition of molips
    		  0                                                                     
      net cash provided used in investing activities
    		                                                                       
      contingent consideration paid towards acquisition of optibuy
    		                                                                       
      contingent consideration paid towards acquisition of the smart cube
    		                                                                       
      net cash from financing activities
    		  -61,097,000    -54,911,000 -45,963,000 -61,618,000   11,519,000 -25,808,000 -14,148,000 -7,650,000 -14,070,000 -91,253,000 -65,640,000 -34,434,000 -15,264,000 -2,424,000 -18,169,000 -4,926,000 -34,585,000 -54,052,000          -29,520,000 -4,163,000 -22,101,000  118,000 -17,634,000 -38,061,000  -19,806,000 -18,124,000 -2,828,000      9,937,000    -2,641,000 -14,169,000 -2,736,000 -18,853,000 6,766,000 -31,459,000 2,221,000 -28,002,000 -4,926,000 -1,700,000 -8,254,000 208,960,000 -66,000 1,986,000 1,363,000 10,335,000 -1,471,000 
      cash (paid)/refunded for income taxes
    		  -9,657,000 -16,916,000 -3,278,000                                                                   
      (gain) on sale of property and equipment
    		                                                                       
      reduction in carrying amount of operating lease right-of-use assets
    		   7,255,000 7,149,000                                                                   
      loss/(gain) on sale of property and equipment
    		    34,000                                                                   
      mutual funds
    		    -62,696,000                                                                   
      net cash (used in)/provided by investing activities
    		    -68,484,000    -265,000                                                               
      net cash provided by/(used in) financing activities
    		    44,226,000     -17,342,000                                                              
      profit after tax
    		                                                                       
      adjustments to reconcile profit after tax to net cash generated from operating activities:
    		                                                                       
      amortization of debt issue cost
    		                                                     107,000                  
      allowances for expected credit losses
    		                                                                       
      unrealized exchange (gain)/loss
    		                                                                       
      income tax expense
    		                                                                       
      interest expense
    		                                                     -341,000                  
      interest income
    		                                                     -19,000                  
      income from mutual fund
    		                                                                       
      fair value change on contingent consideration
    		                                                                       
      rent concession
    		                                                                       
      excess tax benefit from share-based compensation expense
    		     -1,565,000 473,000 110,000 210,000 -1,404,000 175,000 309,000 122,000 -2,015,000 295,000 476,000 182,000 -1,203,000 148,000 186,000 140,000 -1,549,000 78,000 225,000 248,000 -2,612,000 356,000 636,000 360,000 -928,000 177,000 -64,000 130,000 -537,000 20,000 56,000 191,000                                   
      changes in operating assets and liabilities:
    		                                                                       
      trade receivables and unbilled revenue
    		                                                                       
      trade payables
    		                                                                       
      cash generated from operating activities before interest and income taxes
    		                                                     22,238,000                  
      income taxes paid
    		         -6,722,000 -10,236,000 -14,532,000 -4,269,000 -12,260,000 -10,636,000 -15,945,000 -31,000 -9,057,000 -11,099,000 -11,088,000 -2,291,000 -10,570,000 -7,546,000 -10,489,000 -2,575,000 -7,226,000 -6,898,000 -5,824,000 -3,044,000 -11,972,000 -5,776,000 -4,623,000 -4,894,000 -11,694,000 -6,421,000 -8,192,000 -3,155,000 -8,296,000 -5,774,000 -5,287,000 -3,115,000 -5,272,000 -5,229,000 -5,606,000 -2,578,000         -4,419,000                  
      interest paid
    		     -7,003,000 -6,684,000 -7,542,000 -6,670,000 -5,833,000 -3,817,000 -3,483,000 -2,837,000 -3,069,000 -3,220,000 -3,552,000 -3,551,000 -4,107,000 -3,533,000 -3,816,000 -2,998,000 -4,061,000 -4,085,000 -4,323,000 -2,711,000 -577,000 -589,000 -643,000 -712,000 -806,000 -819,000 -885,000 -880,000 -28,000 -13,000 -12,000 -31,000 -1,000 41,000 -122,000 -133,000 -195,000 -318,000 -360,000 -455,000      -766,000 -983,000 -1,094,000 -1,530,000 -1,339,000                 
      interest received
    		     411,000 457,000 1,092,000 1,514,000 3,185,000 1,130,000 440,000 645,000 1,340,000 443,000 325,000 1,469,000 1,750,000 928,000 1,834,000 423,000 754,000 647,000 710,000 726,000 685,000 678,000 597,000 529,000 1,986,000 433,000 510,000 398,000 1,360,000 202,000 262,000 180,000 -204,000 475,000 484,000 477,000 226,000 84,000 68,000 76,000 182,000 55,000 79,000 41,000 31,000 37,000 59,000 42,000 19,000 12,000                 
      proceeds from working capital adjustment on acquisition of the smartcube
    		                                                                       
      deferred consideration paid towards acquisition of optibuy
    		     0 0 0 -2,192,000                                                               
      acquisition of ceprocs, net of cash acquired
    		             0                                                          
      acquisition of mol ips, net of cash acquired
    		         0    0 -433,000                                                         
      mutual fund sold/
    		                                                                       
      profit on sale of mutual fund
    		                                                                       
      proceeds from redemption of mutual fund
    		                                                                       
      principal payment for lease liabilities
    		                     -4,466,000 -5,004,000 -5,023,000 -6,300,000                                               
      payment of transaction charges towards exercise of rsus
    		         0 0                                                             
      exchange difference on cash and cash equivalents
    		     -242,000 389,000 -2,811,000 -2,577,000 1,808,000 -2,252,000 -4,539,000 -10,021,000 -3,908,000 -1,963,000 -2,936,000 -208,000 -1,119,000 3,629,000 3,536,000 -529,000 -7,455,000 1,231,000 -3,122,000 930,000 783,000 -712,000 -3,466,000 -6,040,000 -1,228,000 972,000 472,000 3,105,000 2,053,000 824,000 3,599,000 -954,000 772,000 -4,084,000 -3,388,000 -1,489,000 437,000 -2,440,000 -1,296,000 1,658,000      -3,061,000 398,000 -4,674,000 -1,786,000 192,000                 
      net change in cash and cash equivalents
    		     -7,139,000 2,820,000 8,812,000 -44,960,000 25,480,000 24,037,000 -147,121,000 117,349,000 24,716,000 -5,479,000 -7,704,000 -9,013,000 -43,277,000 11,750,000 8,223,000 32,008,000 10,238,000 4,337,000 -23,433,000 20,343,000 129,000 26,110,000 -6,902,000 -33,722,000 10,165,000 -13,350,000 -2,088,000 35,299,000 -866,000 16,773,000 -10,518,000 22,560,000 2,523,000 20,000 -2,954,000 9,817,000 -2,054,000 3,129,000 -90,000 -2,228,000 5,394,000 -1,445,000    -6,152,000 -19,366,000 5,490,000 23,398,000 -6,800,000 -3,141,000 5,583,000 -14,182,000 6,519,000 -27,208,000 19,308,000 -10,136,000 11,416,000  5,300,000 -42,010,000 -29,360,000  -90,000  11,081,000 
      cash and cash equivalents at the beginning of the year
    		                                                                       
      cash and cash equivalents at the end of the year
    		                                                                       
      non-cash transactions:
    		                                                                       
      investing activities
    		                                                                       
      (ii) contingent consideration payable towards acquisitions
    		                                                                       
      (iii) deferred consideration payable towards acquisitions
    		                                                                       
      (iv) payable upon achievement of target
    		                                                                       
      cash generated from operations
    		      92,236,000 91,034,000 23,314,000  83,217,000 52,074,000 22,300,000  70,313,000 66,484,000 17,434,000  69,985,000 69,794,000 30,000,000  73,448,000 59,616,000 56,558,000  66,296,000 36,441,000 17,884,000  44,511,000 49,039,000 19,468,000  32,012,000 25,905,000 20,688,000  32,975,000 31,506,000 19,765,000  33,527,000 31,348,000 16,162,000  28,037,000 29,066,000 11,236,000  29,803,000 19,497,000 9,282,000  5,703,000                 
      income taxes refunded/(paid)
    		      -12,358,000 -16,128,000 1,342,000                                                               
      deferred consideration paid for acquisition of mol ips
    		                                                                       
      profit on sale of marketable securities
    		      1,458,000 524,000 1,166,000 448,000 330,000 243,000 6,706,000 299,000 90,000 639,000 1,293,000 -963,000 236,000 582,000 650,000 1,323,000 196,000 219,000 919,000 767,000 82,000 340,000 308,000                                           
      marketable securities sold
    		      -4,489,000 -10,787,000 32,974,000  9,173,000 -36,918,000 139,832,000    69,501,000    14,136,000                            4,241,000    11,725,000                   
      proceeds from sale of marketable securities
    		          0 0 12,272,000                                                           
      payment towards cancellation of treasury shares
    		      0                                                                 
      proceeds from short term line of credit
    		      29,701,000 0 39,896,000    31,708,000                                                           
      repayment of short-term line of credit
    		      -9,700,000    0                                                             
      principal payment of lease liabilities
    		      -6,717,000 -8,018,000 -5,498,000  -5,891,000 -6,919,000 -6,428,000  -7,835,000 -6,146,000 -6,397,000  -6,882,000 -7,050,000 -2,509,000                                                   
      cash and cash equivalents at the beginning of the period
    		      0 0 127,898,000  0 0 108,153,000  0 0 105,633,000  0 0 96,929,000  0 0 85,444,000  0 0 99,829,000  0 0 69,803,000  0 0 41,854,000  0 0 32,448,000  0 0 33,691,000 0 0 0 27,878,000 0 0   0                  
      cash and cash equivalents at the end of the period
    		      2,820,000 8,812,000 82,938,000  24,037,000 -147,121,000 225,502,000  -5,479,000 -7,704,000 96,620,000  11,750,000 8,223,000 128,937,000  4,337,000 -23,433,000 105,787,000  26,110,000 -6,902,000 66,107,000  -13,350,000 -2,088,000 105,102,000  16,773,000 -10,518,000 64,414,000  20,000 -2,954,000 42,265,000  3,129,000 -90,000 31,463,000 5,394,000 -1,445,000 6,305,000 23,437,000 1,181,000 -6,152,000   23,398,000                  
      (i) liability towards property and equipment and intangible assets purchased on credit
    		      51,000                                                                 
      acquisition of vuram
    		                                                                       
      acquisition of mol ips
    		            -17,000                                                           
      proceeds towards working capital adjustment on acquisition of vuram
    		        141,000                                                               
      income from marketable securities
    		                                                                       
      marketable securities
    		                 -37,055,000 -12,261,000   -25,795,000                                                  
      proceeds from redemption of marketable securities
    		                                                                       
      proceeds from short-term line of credit
    		          0                                                             
      (ii) contingent consideration payable towards acquisition
    		                                                                       
      (iii) deferred consideration payable towards acquisition of mol ips
    		                                                                       
      (ii) deferred consideration payable towards acquisition
    		                                                                       
      (iii) contingent consideration payable towards acquisition
    		                                                                       
      impairment of goodwill
    		                                                                       
      deferred rent
    		                                                     319,000                  
      payment of contingent considerations in relation to acquisitions
    		                                                                       
      investment in mutual funds
    		                                                                       
      (ii) release of restricted cash, held in escrow
    		                     0 0 0 1,535,000  0 0 1,535,000                                           
      (iii) deferred consideration payable towards acquisition
    		                                                                       
      marketable securities sold/
    		                                                                       
      transaction charges paid on cancellation of treasury shares
    		                  0 0 -55,000                                                   
      (i)liability towards property and equipment and intangible assets purchased on credit
    		                                                                       
      (ii)deferred consideration payable towards acquisition
    		                                                                       
      unrealized exchange loss/(gain)
    		                                                                       
      acquisition of hotelbeds group s.l.u
    		                                                                       
      government grants repaid
    		                             -86,000 -25,000                                         
      investment in marketable securities
    		                         0 -1,000 0 -78,822,000                                           
      dividends received
    		                         0 0 0 32,000 1,189,000 835,000 673,000 873,000                                       
      (i) liability towards property and equipment and intangible assets purchased on credit
    		                  -1,753,000                                                     
      (ii)  release of restricted cash, held in escrow
    		                                                                       
      payment of repurchase of shares
    		                                                                       
      unrealized gain on investments
    		                                                                       
      income from funds held in escrow
    		                                                                       
      reversal of contingent consideration in relation to acquisition of healthhelp
    		                                                                       
      adjustment towards acquisition of healthhelp
    		                                                                       
      adjustment towards acquisition of denali
    		                             -8,000 0                                         
      proceeds from restricted cash, held in escrow
    		                                 0                                      
      government grant received
    		                             32,000 0 0 168,000                                       
      proceeds from maturity of fixed maturity plans
    		                             0 0                                         
      proceeds from exercise of stock options
    		                             0 -1,000 40,000 1,308,000       308,000 625,000 211,000 -1,000 204,000 120,000 35,000 40,000 107,000 97,000 128,000    0 82,000    447,000 2,262,000 650,000 914,000 107,000  67,000 395,000 641,000  646,000  439,000 
      purchase of equity of non-controlling interest
    		                             0 0 0 -52,000                                       
      government grant repaid
    		                                                                       
      marketable securities (short-term) sold
    		                                                                       
      marketable securities (short-term) sold/(purchased)
    		                        39,091,000   18,392,000 68,432,000                                           
      current tax expense
    		                                                                       
      loss/ (gain) on sale of property and equipment
    		                                                                       
      deferred income taxes
    		                                                     -1,266,000                  
      others
    		                                                     19,000                  
      cash generated from operating activities before interest and income taxes:
    		                                                                       
      acquisition of mts healthhelp inc. and its subsidiaries (“healthhelp”), net of cash acquired
    		                                                                       
      repayment of long-term debt of healthhelp
    		                                                                       
      acquisition of denali sourcing services inc. (“denali”), net of cash acquired
    		                                                                       
      acquisition of value edge research services private limited (“value edge”), net of cash acquired
    		                                                                       
      restricted cash, held in escrow
    		                                 0 0                                     
      marketable securities (short-term) sold / (purchased)
    		                         -15,419,000                                              
      repurchase of shares
    		                                                                       
      (iii) liability towards deferred consideration
    		                                                                       
      (iv) release of restricted cash, held in escrow
    		                                                                       
      financing activities
    		                                                                       
      (i) short-term line of credit of denali
    		                                                                       
      working capital adjustment towards acquisition of healthhelp
    		                              0                                         
      purchase of property and equipment and intangible assets
    		                          -4,667,000 -10,749,000 -9,215,000 -5,854,000 -9,039,000 -11,515,000 -7,276,000 -7,379,000 -3,409,000 -6,905,000 -5,174,000                                   
      proceeds from restricted cash held in escrow
    		                              0 0 239,000                                       
      buyback of shares
    		                          -55,000 -33,296,000 -23,000,000 0 -9,546,000   -73,000 -29,540,000 -11,680,000 -22,931,000                                   
      deferred consideration paid towards acquisition of denali
    		                                -522,000                                       
      net cash provided by/(used) in financing activities
    		                            -22,640,000    1,088,000                                       
      profit
    		                                                     4,400,000                  
      adjustments to reconcile profit to net cash generated from operating activities:
    		                                                                       
      allowance for doubtful trade receivables
    		                                                                       
      dividend income
    		                                                                       
      reversal of contingent consideration in relation to acquisition
    		                                                                       
      unrealized gain on derivative instruments
    		                                                     -5,357,000                  
      deferred revenue
    		                                                     421,000                  
      acquisition of healthhelp, net of cash acquired
    		                                                                       
      acquisition of denali, net of cash acquired
    		                                                                       
      acquisition of value edge, net of cash acquired
    		                                 -763,000 0 -1,000 -11,956,000                                   
      payment for telkom business combination, net of cash acquired
    		                                     0                                  
      marketable securities (purchased)/sold
    		                                                                       
      proceeds from long term debt
    		                                                 0 0     0 0        -44,000       
      repayment of long term debt
    		                             -14,050,000 0       0 0 -8,163,000 -5,000,000 -6,629,000 0        0   -30,000,000  -20,000,000 0   -35,000,000 0 -25,000,000 -5,000,000         
      repayments of short term borrowings
    		                                        -13,051,000            -2,616,000                   
      (ii)  contingent consideration payable towards acquisitions
    		                                                                       
      (iii)   liability towards deferred consideration
    		                                                                       
      (iv) release of restricted cash, held in escrow
    		                                                                       
      (i) short term line of credit of denali sourcing services inc.
    		                                                                       
      marketable securities sold/(purchased)
    		                              -21,103,000 7,705,000 23,507,000  21,898,000 -22,265,000 48,824,000  -21,468,000 174,000 8,881,000   912,000 -54,415,000                           
      (ii) contingent consideration payable towards acquisition of value edge
    		                                                                       
      (iii) working capital adjustment amount payable towards acquisition of value edge
    		                                                                       
      allowance for doubtful accounts
    		                                                     872,000                  
      acquisition of isoftstone assets and the related workforce
    		                                                                       
      proceeds from sale of fixed maturity plans
    		                                                                       
      proceeds from / (repayments of) short term borrowings
    		                                                                       
      (iii) liability towards deferred consideration.
    		                                                                       
      (i) short term line of credit of denali sourcing services inc.
    		                                                                       
      dividend received
    		                                  877,000 948,000 1,322,000 1,521,000 1,196,000 988,000 1,335,000 1,126,000 1,001,000 1,174,000 1,091,000 772,000 1,027,000 732,000 615,000 1,095,000 720,000 497,000 631,000                   
      proceeds from exercise of share-based options
    		                                  0 7,461,000 639,000                                   
      repayments of short-term borrowings
    		                                                                       
      note: (i) liability towards property and equipment and intangible assets purchased on credit
    		                                                                       
      note: (i) liability towards property and equipment and intangible assets purchased on credit / deferred credit
    		                                                                       
      restricted cash balance
    		                                    -5,112,000                                   
      note: liability towards property and equipment and intangible assets purchased on credit/deferred credit
    		                                    3,376,000  1,056,000 1,282,000 1,449,000  -351,000 -422,000 2,008,000  521,000 -586,000 2,366,000                       
      liability towards business combination
    		                                        3,313,000                               
      interest on deferred consideration
    		                                                                       
      deferred consideration paid towards acquisition of fusion
    		                                                                       
      investment in fixed maturity plans
    		                                                                       
      proceeds from/(repayments of) short term borrowings
    		                                                                       
      net cash provided used in financing activities
    		                                                                       
      note 1: liability towards property and equipment and intangible assets purchased on credit/deferred credit
    		                                                                       
      acquisition of isoftstone assets and personnel
    		                                                                       
      purchase of property and equipment and intangibles
    		                                      -3,615,000 -6,635,000 -8,598,000 -5,447,000 -5,305,000 -8,348,000 -3,868,000      -5,818,000 -7,572,000 -4,393,000                   
      proceeds from sale of fixed maturity plan
    		                                      0 -584,000 30,698,000 23,314,000   42,812,000                           
      proceeds from exercise of share based options and rsus
    		                                                                       
      purchase of treasury shares
    		                                      0                                 
      excess tax benefit from share based compensation expense
    		                                                                       
      repayment of short term borrowings
    		                                      0                                 
      payment for business combination, net of cash acquired
    		                                                                       
      excess tax benefit from share based compensation
    		                                       18,000 36,000 -167,000 7,000 -3,000 64,000 -205,000 13,000 54,000 32,000 22,000 3,000   -347,000                  
      net cash from / (used in) investing activities
    		                                        32,373,000                               
      purchase of treasury stock
    		                                        -20,671,000                               
      share-based compensation
    		                                                     1,693,000                  
      acquisition of isoftstone assets and the workforce
    		                                                                       
      acquisition, net of cash acquired
    		                                                  -644,000 -153,000 -6,256,000    0               
      marketable securities purchased
    		                                         -26,764,000         -33,376,000                     
      investments in fixed maturity plan
    		                                                                       
      investment in fixed deposit
    		                                                                       
      government grants received
    		                                                                       
      direct cost incurred in relation to public offering
    		                                                  0 0 -16,000                   
      proceeds/(repayments) from short term borrowings
    		                                                                       
      net cash provided by/ (used) in financing activities
    		                                                                       
      fixed maturity plan (“fmp”) purchased
    		                                                                       
      proceeds from sale of fmp
    		                                                                       
      (repayments)/proceeds from short term borrowings
    		                                           -12,947,000 -3,012,000                           
      fixed maturity plan (fmp) purchased
    		                                                                       
      unrealized exchange loss
    		                                                                       
      trade receivable and unbilled revenue
    		                                                                       
      trade payable
    		                                                                       
      purchase of remaining (35%) share of non-controlling interest
    		                                                                       
      proceeds from issuance of ordinary shares through public offering
    		                                                                       
      proceeds from short term borrowings
    		                                                 15,813,000 9,784,000   -10,086,000                  
      net cash provided (used) by financing activities
    		                                                     26,922,000                  
      investment in fixed maturity plan
    		                                                                       
      earn-out payment
    		                                                                       
      subscription of shares in a non-profit organization
    		                                                                       
      proceeds from release of deposit
    		                                                                       
      cash flows from operating activities
    		                                                                       
      income tax paid
    		                                                  -3,297,000 -3,566,000 -2,068,000  -2,042,000                 
      purchase of remaining (35%) share of noncontrolling interest
    		                                                                       
      proceeds from release of deposits
    		                                                                       
      net cash provided (used in) investing activities
    		                                                    1,759,000                   
      proceeds of long term debt
    		                                                    5,000,000                   
      excess tax benefits from share based compensation
    		                                                    8,000  317,000                 
      net cash provided (used in) financing activities
    		                                                    2,243,000                   
      cash and cash equivalents at the beginning of period
    		                                                    46,725,000  27,090,000                 
      cash and cash equivalents at the end of period
    		                                                    52,215,000  20,290,000                 
      accounts receivable and unbilled revenue
    		                                                     1,611,000                  
      other current assets
    		                                                     -6,649,000                  
      accounts payable
    		                                                     10,015,000                  
      purchase of remaining (35%) stake in joint venture
    		                                                                       
      purchase of property and equipment
    		                                                      -6,752,000              -7,385,000 -4,458,000 -6,603,000 
      purchase of intangibles
    		                                                                       
      marketable securities and deposits (purchased) sold
    		                                                          -7,000             
      proceeds from sale from property and equipment
    		                                                                       
      marketable securities and deposits purchased
    		                                                                       
      (repayments) proceeds from short term borrowings
    		                                                      -3,001,000                 
      (gain) loss on sale of property and equipment
    		                                                                       
      unrealized gain on marketable securities
    		                                                                       
      excess tax benefits from share-based compensation
    		                                                       -905,000 23,000 -436,000 749,000 -3,047,000 253,000 471,000 498,000 -3,770,000 367,000 671,000 506,000 -3,600,000 717,000 -6,546,000 40,000 
      other
    		                                                                       
      changes in operating assets and liabilities
    		                                                                       
      acquisitions, net of cash acquired
    		                                                                     -143,000  
      facility and property cost
    		                                                       -4,787,000 -3,697,000 -4,029,000 -2,750,000 -4,337,000 -2,555,000 -2,599,000 -3,766,000  -11,221,000 -3,150,000 -2,429,000     
      marketable securities and deposits sold (purchased)
    		                                                                       
      proceeds from issue of shares by subsidiary to redeemable noncontrolling interest
    		                                                                       
      proceeds from (repayments of) short term borrowings
    		                                                       5,608,000 -2,631,000 4,527,000 6,104,000             
      principal payments under capital leases
    		                                                           1,000   -45,000 -1,000 -13,000 -166,000 -3,000  0 -11,000 -39,000 
      effect of exchange rate changes on cash and cash equivalents
    		                                                          -2,060,000 861,000 2,309,000 -553,000 3,164,000 -2,954,000 430,000 -4,542,000 -2,920,000 -465,000 719,000 597,000 591,000 
      cash and cash equivalents at beginning of year
    		                                                                       
      cash and cash equivalents at end of year
    		                                                                       
      supplemental disclosure of cash flow information:
    		                                                                       
      assets acquired under capital lease
    		                                                                       
      cash flows from related parties
    		                                                                       
      marketable securities sold and deposits
    		                                                        0               
      ordinary shares issued and subscribed
    		                                                        53,000               
      effect of exchange rate changes on cash
    		                                                        -230,000               
      cash and cash equivalents at beginning of period
    		                                                        0 0 32,311,000  0 0 38,931,000  0 0 102,698,000  0  0 
      cash and cash equivalents at end of period
    		                                                        5,583,000 -14,182,000 38,830,000  19,308,000 -10,136,000 50,347,000  5,300,000 -42,010,000 73,338,000  -90,000  11,081,000 
      proceeds from sale of assets
    		                                                          55,000 84,000 114,000 161,000 301,000  50,000 67,000 102,000  36,000   
      loss on sale of property and equipment
    		                                                                       
      impairment of goodwill, intangibles and other assets
    		                                                                       
      unrealized (gain) loss on derivative instruments
    		                                                                       
      acquisitions, net of cash received
    		                                                           0     -2,437,000 -261,937,000 -26,851,000  -101,000   
      transfer of delivery centre to aviva
    		                                                                   0 0   
      ipo expenses paid
    		                                                                       
      marketable securities and deposits sold
    		                                                            3,468,000 -3,239,000 9,226,000         
      proceeds from issue of shares by subsidiary to noncontrolling interest
    		                                                                       
      short term borrowing — related parties
    		                                                                       
      short term (repayments) borrowing
    		                                                                       
      principal payment under capital leases
    		                                                                       
      repayment of short term line of credit
    		                                                              -439,000         
      minority interest
    		                                                                       
      changes in operating assets and liabilities, net of effects of acquisitions
    		                                                                       
      accounts receivable
    		                                                                       
      purchase of facilities and property cost
    		                                                                       
      purchase of marketable securities and deposits
    		                                                                       
      sale of marketable securities and deposits
    		                                                                       
      proceeds from ipo, net of expenses
    		                                                                       
      proceeds from issuance of long term debt, net of issuance costs
    		                                                                       
      repayments of short term line of credit
    		                                                                       
      net increase in cash and cash equivalents
    		                                                                       
      marketable securities and deposits
    		                                                                -154,000 3,025,000 4,816,000     
      initial public offering expenses
    		                                                                       
      short term borrowing availed
    		                                                                       
      short term borrowing repaid
    		                                                                       
      short term borrowing
    		                                                                       
      ipo expenses
    		                                                                    0   
      repayment of short-term borrowing
    		                                                                  -1,210,000     
      amortization of deferred financing cost
    		                                                                       
      deferred rent expenses
    		                                                                       
      income accrued on marketable securities
    		                                                                       
      changes in operating assets and liabilities, net of effect of acquisitions:
    		                                                                       
      facilities and property cost
    		                                                                       
      bank deposits and marketable securities
    		                                                                       
      repayment of note payable
    		                                                                       
      shares issued for the acquisition of trinity partners inc.
    		                                                                       
      bank deposit
    		                                                                    0   
      proceeds from initial public offering (“ipo”), net of expense
    		                                                                       
      proceeds from line of credit
    		                                                                       
      initial public offering (ipo) expenses
    		                                                                       
      deposits
    		                                                                       
      bank deposits
    		                                                                       
      proceeds from note payable, net of financing cost
    		                                                                       
      cash paid (refund) for income taxes
    		                                                                       
      assets acquired under capital leases
    		                                                                       
      proceeds from initial public offering (‘ipo’), net of expenses
    		                                                                      -1,911,000 
      acquisitions
    		                                                                       
      offering costs
    		                                                                       
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.