Virtusa (VRTU) 10-Q 31 Oct 14 2015 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Sep. 30, 2014	Oct. 27, 2014
Document and Entity Information	'	'
Entity Registrant Name	'VIRTUSA CORP	'
Entity Central Index Key	'0001207074	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--03-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	29,497,170
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q2	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$93,967	$82,761
Short-term investments	67,581	55,888
Accounts receivable, net of allowance of $901 and $1,130 at September 30, 2014 and March 31, 2014, respectively	69,645	64,662
Unbilled accounts receivable	23,759	26,548
Prepaid expenses	12,667	9,036
Deferred income taxes	5,938	6,610
Restricted cash	2,553	2,662
Other current assets	12,326	11,922
Total current assets	288,436	260,089
Property and equipment, net of accumulated depreciation of $34,196 and $30,625 at September 30, 2014 and March 31, 2014, respectively	35,320	35,346
Long-term investments	53,607	62,015
Deferred income taxes	4,090	4,651
Goodwill	52,130	53,448
Intangible assets, net	25,218	28,661
Other long-term assets	5,602	5,215
Total assets	464,403	449,425
Current liabilities:	'	'
Accounts payable	9,080	11,002
Accrued employee compensation and benefits	23,727	27,175
Accrued expenses and other current liabilities	25,834	27,299
Income taxes payable	1,957	1,294
Total current liabilities	60,598	66,770
Deferred income taxes	2,460	2,744
Long-term liabilities	5,362	5,841
Total liabilities	68,420	75,355
Commitments and guarantees	'	'
Stockholders' equity:	'	'
Undesignated preferred stock, $0.01 par value: Authorized 5,000,000 shares at September 30, 2014 and March 31, 2014; zero shares issued and outstanding at September 30, 2014 and March 31, 2014	'	'
Common stock, $0.01 par value: Authorized 120,000,000 shares at September 30, 2014 and March 31, 2014; issued 30,665,574 and 30,263,243 shares at September 30, 2014 and March 31, 2014, respectively; outstanding 28,808,871 and 28,406,540 shares at September 30, 2014 and March 31, 2014, respectively	307	303
Treasury stock, 1,856,703 common shares, at cost, at September 30, 2014 and March 31, 2014, respectively	-9,652	-9,652
Additional paid-in capital	275,310	269,511
Retained earnings	160,739	141,622
Accumulated other comprehensive loss	-30,721	-27,714
Total stockholders' equity	395,983	374,070
Total liabilities, undesignated preferred stock and stockholders' equity	$464,403	$449,425

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Mar. 31, 2014
In Thousands, except Share data, unless otherwise specified
Consolidated Balance Sheets	'	'
Accounts receivable, allowance (in dollars)	$901	$1,130
Property and equipment, accumulated depreciation (in dollars)	$34,196	$30,625
Undesignated preferred stock, par value (in dollars per share)	$0.01	$0.01
Undesignated preferred stock, Authorized shares	5,000,000	5,000,000
Undesignated preferred stock, shares issued	0	0
Undesignated preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, Authorized shares	120,000,000	120,000,000
Common stock, issued shares	30,665,574	30,263,243
Common stock, outstanding shares	28,808,871	28,406,540
Treasury stock, common shares	1,856,703	1,856,703

Consolidated_Statements_of_Inc

Consolidated Statements of Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Consolidated Statements of Income	'	'	'	'
Revenue	$117,700	$94,301	$229,974	$184,790
Costs of revenue	74,968	60,503	147,557	118,305
Gross profit	42,732	33,798	82,417	66,485
Operating expenses:	'	'	'	'
Selling, general and administrative expenses	30,491	24,022	58,946	47,780
Income from operations	12,241	9,776	23,471	18,705
Other income (expense):	'	'	'	'
Interest income	1,230	846	2,389	1,602
Foreign currency transaction gains (losses)	85	-959	-69	-573
Other, net	-58	218	-68	212
Total other income	1,257	105	2,252	1,241
Income before income tax expense	13,498	9,881	25,723	19,946
Income tax expense	3,384	2,403	6,606	4,946
Net income	$10,114	$7,478	$19,117	$15,000
Net income per share of common stock:	'	'	'	'
Basic (in dollars per share)	$0.35	$0.29	$0.67	$0.59
Diluted (in dollars per share)	$0.34	$0.28	$0.65	$0.57

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Consolidated Statements of Comprehensive Income	'	'	'	'
Net income	$10,114	$7,478	$19,117	$15,000
Other comprehensive income (loss):	'	'	'	'
Foreign currency translation adjustments	-5,249	-2,683	-5,450	-10,928
Pension plan adjustment	26	67	13	143
Unrealized (loss) gain on available-for-sale securities, net of tax	-91	21	-41	3
Unrealized gain (loss) on effective cash flow hedges, net of tax	1,810	-4,382	2,471	-9,292
Other comprehensive income (loss)	-3,504	-6,977	-3,007	-20,074
Comprehensive income (loss)	$6,610	$501	$16,110	($5,074)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:	'	'
Net income	$19,117	$15,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities:	'	'
Depreciation and amortization	7,151	5,153
Share-based compensation expense	4,931	3,530
Reversal of contingent consideration	-1,833	'
Provision for doubtful accounts	-175	639
Loss on sale of property and equipment	42	19
Deferred income taxes	122	'
Foreign currency losses, net	69	573
Amortization of discounts and premiums on investments	636	'
Excess tax benefits from stock option exercises	-2,837	-1,783
Net change in operating assets and liabilities:	'	'
Accounts receivable	-3,422	2,920
Prepaid expenses and other current assets	-927	-1,563
Other long-term assets	-386	-317
Accounts payable	-887	-2,332
Accrued employee compensation and benefits	-6,577	-663
Accrued expenses and other current liabilities	2,834	-2,826
Income taxes payable	824	3,680
Other long-term liabilities	539	-125
Net cash provided by operating activities	19,221	21,905
Cash flows from investing activities:	'	'
Proceeds from sale of property and equipment	26	56
Purchase of short-term investments	-2,515	-9,104
Proceeds from sale or maturity of short-term investments	10,797	2,893
Purchase of long-term investments	-15,005	-4,886
Proceeds from sale or maturity of long-term investments	2,000	600
(Increase) decrease in restricted cash	-15	322
Purchase of property and equipment	-6,393	-3,487
Net cash used in investing activities	-11,105	-13,606
Cash flows from financing activities:	'	'
Proceeds from exercise of common stock options	1,650	1,675
Payment of contingent consideration of related to acquisition	-441	'
Principal payments on capital lease obligation	-22	-9
Excess tax benefits from stock option exercises	2,837	1,783
Net cash provided by financing activities	4,024	3,449
Effect of exchange rate changes on cash and cash equivalents	-934	-4,008
Net increase in cash and cash equivalents	11,206	7,740
Cash and cash equivalents, beginning of period	82,761	57,199
Cash and cash equivalents, end of period	$93,967	$64,939

Nature_of_Business

Nature of Business	6 Months Ended
	Sep. 30, 2014
Nature of Business	'
Nature of Business	'
	(1) Nature of Business
	Virtusa Corporation (the “Company” or “Virtusa”) is a global information technology services company. The Company uses a global delivery model to provide a broad range of information technology, or IT, services, including IT consulting, technology implementation and application outsourcing. Using its enhanced global delivery model, innovative platforming approach and industry expertise, the Company provides cost-effective services that enable its clients to accelerate time to market, improve service and enhance productivity. Headquartered in Massachusetts, Virtusa has offices in the United States, the United Kingdom, Sweden, Germany and Austria and global delivery centers in India, Sri Lanka, Hungary, Singapore and Malaysia, as well as a near shore center in the United States.

Unaudited_Interim_Financial_In

Unaudited Interim Financial Information	6 Months Ended
	Sep. 30, 2014
Unaudited Interim Financial Information	'
Unaudited Interim Financial Information	'
	(2) Unaudited Interim Financial Information
	Basis of Presentation
	The accompanying unaudited consolidated financial statements have been prepared by the Company in accordance with U.S. generally accepted accounting principles and Article 10 of Regulation S-X under the Securities and Exchange Act of 1934, as amended, and should be read in conjunction with the Company’s audited consolidated financial statements (and notes thereto) for the fiscal year ended March 31, 2014 included in the Company’s Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission, or SEC, on May 23, 2014. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted pursuant to such SEC rules and regulations. In the opinion of the Company’s management, all adjustments considered necessary for a fair presentation of the accompanying unaudited consolidated financial statements have been included, and all material adjustments are of a normal and recurring nature. Operating results for the interim periods are not necessarily indicative of results that may be expected to occur for the entire fiscal year.
	Principles of Consolidation
	The consolidated financial statements reflect the accounts of the Company and its direct and indirect subsidiaries, Virtusa Consulting Services Private Limited and Virtusa Software Services Private Limited, each organized and located in India, Virtusa (Private) Limited, organized and located in Sri Lanka, Virtusa UK Limited, organized and located in the United Kingdom, Virtusa Securities Corporation, a Massachusetts securities corporation, InSource Holdings, Inc., a company incorporated in the State of Connecticut, InSource LLC, a Connecticut limited liability company located in Connecticut, Virtusa International, B.V., organized and located in the Netherlands, Virtusa Hungary Kft., incorporated and located in Hungary, Virtusa Germany GmbH, organized and located in Germany, Virtusa Singapore Private Limited, organized and located in Singapore, Virtusa Malaysia Private Limited, organized and located in Malaysia, Virtusa Austria GmbH, organized and located in Austria, Virtusa Philippines Inc., organized and located in the Philippines and TradeTech Consulting Scandinavia AB, organized and located in Sweden. All intercompany transactions and balances have been eliminated in consolidation.
	Use of Estimates
	The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including the recoverability of tangible assets, disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenue and expenses during the reported period. Management reevaluates these estimates on an ongoing basis. The most significant estimates relate to the recognition of revenue and profits based on the percentage of completion method of accounting for fixed price contracts, share based compensation, income taxes, including reserves for uncertain tax positions, deferred taxes and liabilities, intangible assets, contingent consideration and valuation of financial instruments including derivative contracts and investments. Management bases its estimates on historical experience and on various other factors and assumptions that are believed to be reasonable under the circumstances. The actual amounts may vary from the estimates used in the preparation of the accompanying consolidated financial statements.
	Fair Value of Financial Instruments
	At September 30, 2014 and March 31, 2014, the carrying amounts of certain of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, unbilled accounts receivable, restricted cash, accounts payable, accrued employee compensation and benefits and other accrued expenses, approximate their fair values due to the nature of the items. See Note 5 for a discussion of the fair value of the Company’s other financial instruments.

Net_Income_per_Share

Net Income per Share	6 Months Ended
	Sep. 30, 2014
Net Income per Share	'
Net Income per Share	'
	(3) Net Income per Share
	Basic net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period, and diluted earnings per share is computed by including the dilutive impact of common stock equivalents outstanding for the period in the denominator. Common stock equivalents include shares issuable upon the exercise of outstanding stock options, SARs, unvested restricted stock awards and unvested restricted stock units, net of shares assumed to have been purchased with the proceeds, using the treasury stock method. The following table sets forth the computation of basic and diluted net income per share for the periods set forth below:
		Three Months Ended				Six Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Numerators:
	Net income	$	10,114	$	7,478	$	19,117	$	15,000
	Denominators:
	Weighted average common shares outstanding	28,695,642		25,553,237		28,586,223		25,423,169
	Dilutive effect of employee stock options and unvested restricted stock	720,156		741,771		797,595		791,640
	Dilutive effect of stock appreciation rights	8,569		14,390		9,006		15,430
	Weighted average shares-diluted	29,424,367		26,309,398		29,392,824		26,230,239
	Net income per share-basic	$	0.35	$	0.29	$	0.67	$	0.59
	Net income per share-diluted	$	0.34	$	0.28	$	0.65	$	0.57
	During the three and six months ended September 30, 2014, options to purchase 22,471 and 47,849 shares of common stock, respectively, were excluded from the calculations of diluted earnings per share as their effect would have been anti-dilutive.
	During the three and six months ended September 30, 2013, options to purchase 26,204 and 71,795 shares of common stock, respectively, were excluded from the calculations of diluted earnings per share as their effect would have been anti-dilutive.

Investment_Securities

Investment Securities	6 Months Ended
	Sep. 30, 2014
Investment Securities	'
Investment Securities	'
	(4) Investment Securities
	At September 30, 2014 and March 31, 2014, all of the Company’s investment securities were classified as available-for-sale and were carried on its balance sheet at their fair market value. A fair market value hierarchy based on three levels of inputs was used to measure each security (see Note 5).
	The following is a summary of investment securities at September 30, 2014:
		Amortized		Gross		Gross			Fair
		Cost		Unrealized		Unrealized			Value
				Gains		Losses
	Available-for-sale securities:
	Corporate bonds:
	Current	$	35,831	$	6	$	(27	)	$	35,810
	Non-current	40,731		2		(91		)	40,642
	Auction-rate securities:
	Non-current	300		—		(11		)	289
	Agency and short-term notes:
	Current	1,420		1		—			1,421
	Non-current	12,484		1		(9		)	12,476
	Commercial paper:
	Current	—		—		—			—
	Municipal bonds:
	Non-current	200		—		—			200
	Time deposits:
	Current	30,350		—		—			30,350
	Total available-for-sale securities	$	121,316	$	10	$	(138	)	$	121,188
	The following is a summary of investment securities at March 31, 2014:
		Amortized		Gross		Gross			Fair
		Cost		Unrealized		Unrealized			Value
				Gains		Losses
	Available-for-sale securities:
	Corporate bonds:
	Current	$	20,255	$	9	$	(8	)	$	20,256
	Non-current	50,264		5		(70		)	50,199
	Auction-rate securities:
	Non-current	300		—		(12		)	288
	Agency and short-term notes:
	Current	561		—		—			561
	Non-current	11,341		1		(14		)	11,328
	Commercial paper:
	Current	5,497		—		—			5,497
	Municipal bonds:
	Non-current	200		—		—			200
	Time deposits:
	Current	29,574		—		—			29,574
	Total available-for-sale securities	$	117,992	$	15	$	(104	)	$	117,903
	The Company evaluates investments with unrealized losses to determine if the losses are other than temporary. The Company has determined that the gross unrealized losses at September 30, 2014 and March 31, 2014 are temporary. In making this determination, the Company considered the financial condition, credit ratings and near-term prospects of the issuers, the underlying collateral of the investments, and the magnitude of the losses as compared to the cost and the length of time the investments have been in an unrealized loss position. Additionally, while the Company classifies the securities as available for sale, the Company does not currently intend to sell such investments and it is more likely than not the Company will not be required to sell such investments prior to the recovery of their carrying value, except as disclosed in Note 5.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	6 Months Ended
	Sep. 30, 2014
Fair Value of Financial Instruments	'
Fair Value of Financial Instruments	'
	(5) Fair Value of Financial Instruments
	The Company uses a framework for measuring fair value under U.S. generally accepted accounting principles and enhanced disclosures about fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The Company’s financial assets and liabilities reflected in the consolidated financial statements at carrying value include marketable securities and other financial instruments which approximate fair value. Fair value for marketable securities is determined using a market approach based on quoted market prices at period end in active markets. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:
		·		Level 1—Quoted prices in active markets for identical assets or liabilities.
		·		Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
		·		Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
	The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis at September 30, 2014:
			Level 1			Level 2		Level 3		Total
	Assets:
	Investments:
	Available-for-sales securities—current		$	—		$	67,581	$	—	$	67,581
	Available-for-sales securities—non-current		—			53,318		289		53,607
	Foreign currency derivative contracts		—			1,794		—		1,794
	Total assets		$	—		$	122,693	$	289	$	122,982
	Liabilities:
	Foreign currency derivative contracts		$	—		$	3,835	$	—	$	3,835
	Contingent consideration		—			—		4,403		4,403
	Total liabilities		$	—		$	3,835	$	4,403	$	8,238
	The Company’s investments in auction-rate securities (see Note 4), which are listed in the table above under the column “Level 3” under “Investments: Available-for-sale securities—non-current”, are classified within Level 3 because there are currently no active markets or observable market prices. Therefore, the auction-rate securities were valued primarily based on an income approach using an estimate of future cash flows. The Company has estimated the fair value using a discounted cash flow analysis which considered the following key inputs: (i) the underlying structure and maturity of each security; (ii) the timing of expected future principal and interest payments; and (iii) discount rates that are believed to reflect current market conditions and the relevant risk associated with each security. The underlying assets of these auction-rate securities are generally student loans which are substantially backed by the U.S. federal government. The Company classifies its investment in auction-rate securities as long-term investments, reflecting the fact that the Company’s auction-rate securities have underlying final maturities of greater than one year.
	The following table provides a summary of changes in fair value of the Company’s Level 3 financial assets at September 30, 2014:
			Level 3
			Assets
	Balance at April 1, 2014		$	288
	Total unrealized gains:
	Included in accumulated other comprehensive income		1
	Balance at September 30, 2014		$	289
	The Company determines the fair value of the contingent consideration related to the Company’s acquisition on November 1, 2013 of OSB Consulting LLC (“OSB”) and on January 2, 2014 of TradeTech Consulting Scandinavia AB (“TradeTech”) based on the probability of attaining certain revenue and profit margin targets using an appropriate discount rate to present value the liability. See Note 7 of the notes to our financial statements included herein for a description of OSB and TradeTech acquisitions and related contingent consideration targets. The following table provides a summary of changes in fair value of the Company’s Level 3 financial liabilities at September 30, 2014.
			Level 3
			Liabilities
	Balance at April 1, 2014		$	5,925
	Payment of OSB contingent consideration (See Note 7)		(500		)
	Reversal of the TradeTech earn-out recognized in earnings (See Note 7)		(1,833		)
	Increase of the OSB earn-out recognized in earnings (See Note 7)		861
	Cumulative foreign currency translation adjustments		(50		)
	Balance at September 30, 2014		$	4,403

Derivative_Financial_Instrumen

Derivative Financial Instruments	6 Months Ended
	Sep. 30, 2014
Derivative Financial Instruments	'
Derivative Financial Instruments	'
	(6) Derivative Financial Instruments
	The Company evaluates its foreign exchange policy on an ongoing basis to assess its ability to address foreign exchange exposures on its consolidated balance sheets, statements of income and consolidated statement of cash flows from all foreign currencies, including most significantly the U.K. pound sterling, Indian rupee, Euro, Swedish krona and Sri Lankan rupee. The Company enters into hedging programs with highly rated financial institutions in accordance with its foreign exchange policy (as approved by the Company’s audit committee and board of directors) which permits hedging of material, known foreign currency exposures. Currently, the Company maintains three hedging programs, each with varying contract types, duration and purposes. The Company’s “Cash Flow Program” is designed to mitigate the impact of volatility in the U.S. dollar equivalent of the Company’s Indian rupee denominated expenses over a rolling 36 month period. The Cash Flow Program transactions currently meet the criteria for hedge accounting as cash flow hedges. The Company’s “Balance Sheet Program” involves the use of 30 day derivative instruments designed to mitigate the monthly impact of foreign exchange gains/losses on certain intercompany balances and payments. The Company’s “Economic Hedge Program” involves the purchase of derivative instruments with maturities of up to 92 days, and is designed to mitigate the impact of foreign exchange on the U.K. pound sterling and Swedish krona denominated revenue and costs with respect to the quarter for which such instruments are purchased. The Balance Sheet Program and the Economic Hedge Program are treated as economic hedges as these programs do not meet the criteria for hedge accounting and all gains and losses are recognized in consolidated statement of income under the same line item as the underlying exposure being hedged.
	The Company evaluates all of its derivatives based on market observable inputs, including both forward and spot prices for currencies. Any significant change in the forward or spot prices for hedged currencies would have a significant impact on the value of the Company’s derivatives. Changes in fair value of the designated cash flow hedges for the Company’s Cash Flow Program are recorded as a component of accumulated other comprehensive income (loss) (“AOCI”), net of tax, until the forecasted hedged transactions occur and are then recognized in the consolidated statement of income in the same line item as the item being hedged. The Company evaluates hedge effectiveness at the time a contract is entered into, as well as on an ongoing basis. If, and when, all or part of a hedge relationship is discontinued because the forecasted transaction is deemed probable of not occurring by the end of the originally specified period or within an additional two-month period of time thereafter, the contract, or the relative amount of the contract, is deemed “ineffective” and any related derivative amounts recorded in equity are reclassified to earnings. There were no gains (losses) that were reclassified from AOCI into earnings as a result of forecasted transactions that were considered probable of not occurring for the six month periods ended September 30, 2014 and 2013.
	Changes in the fair value of the derivatives purchased under the Balance Sheet Program are reflected in the Company’s consolidated statement of income and are included in foreign currency transaction gains (losses) for each period. Changes in the fair value of the derivatives purchased under the Economic Hedge Program are also reflected in the Company’s consolidated statement of income and are included in the same line item as the underlying exposure being hedged for each period.
	The U.S. dollar notional equivalent market value, which consists of the notional value and net unrealized gain or loss, of all outstanding foreign currency derivative contracts, was $113,334 and $102,801, at September 30, 2014 and March 31, 2014, respectively. Unrealized net losses related to these contracts which are expected to be reclassified from AOCI to earnings during the next 12 months were $1,259 at September 30, 2014. At September 30, 2014, the maximum outstanding term of any derivative instrument was 33 months.
	The following table sets forth the fair value of derivative instruments included in the consolidated balance sheets at September 30, 2014 and March 31, 2014:
	Derivatives designated as hedging instruments
		September 30, 2014			March 31, 2014
	Foreign currency exchange contracts:
	Other current assets	$	1,174		$	398
	Other long-term assets	$	620		$	586
	Accrued expenses and other current liabilities	$	2,433		$	3,925
	Long-term liabilities	$	1,402		$	2,449
	The following tables set forth the effect of the Company’s foreign currency exchange contracts on the consolidated financial statements of the Company for the three and six months ended September 30, 2014 and 2013:
		Amount of Gain or (Loss) Recognized in AOCI on Derivative
		(Effective Portion)
	Derivatives Designated as Cash Flow	Three months ended September 30,						Six months ended September 30,
	Hedging Relationships	2014			2013			2014			2013
	Foreign currency exchange contracts	$	1,072		$	(8,579	)	$	1,514		$	(16,965	)
	Location of Gain or (Loss) Reclassified	Amount of Gain or (Loss) Reclassified from AOCI into Income
		(Effective Portion)
	from AOCI into Income (Effective	Three months ended September 30,						Six months ended September 30,
	Portion)	2014			2013			2014			2013
	Costs of revenue	$	(771	)	$	(1,463	)	$	(1,165	)	$	(2,057	)
	Operating expenses	$	(427	)	$	(905	)	$	(670	)	$	(1,290	)
				Amount of Gain or (Loss) Recognized in Income on Derivatives
	Derivatives not Designated	Location of Gain or (Loss)		Three months ended						Six months ended
				September 30,						September 30,
	as Hedging Instrument	Recognized in Income on Derivatives		2014			2013			2014			2013
	Foreign currency exchange contracts	Foreign currency transaction gains (losses)		$	166		$	(1,845	)	$	(83	)	$	(3,454	)
		Revenue		$	284		$	(379	)	$	136		$	(480	)
		Costs of revenue		$	(129	)	$	130		$	(80	)	$	184
		Selling, general and administrative expenses		$	(23	)	$	17		$	(14	)	$	21

Acquisitions

Acquisitions	6 Months Ended
	Sep. 30, 2014
Acquisitions	'
Acquisitions	'
	(7) Acquisitions
	On November 1, 2013, the Company acquired substantially all of the business and assets of OSB pursuant to an asset purchase agreement dated November 1, 2013 (the “Asset Purchase Agreement”) by and among OSB and the sole member of OSB. The acquisition of OSB extends the Company’s service offerings to include a broader set of finance transformation services in the financial services and insurance domains to existing and new clients, including service offerings targeted to enable clients to automate their finance and accounting processes, reporting capabilities, including SAP based capabilities, and regulatory compliance programs.
	The purchase price was $6,840 in cash. Ten percent of the purchase price is subject to a hold back by the Company for a period of 12 months as security for the sellers’ indemnification obligations under the Asset Purchase Agreement. The purchase price is subject to adjustment after the closing of up to an additional $6,000 in earn-out consideration, in the aggregate, upon the achievement of certain revenue and operating margin targets for the five months ending March 31, 2014, the nine months ending December 31, 2014 and the twelve months ending December 31, 2015. At March 31, 2014, the Company determined that OSB had met 100% of the performance targets for the five months ending March 31, 2014.  During the six months ended September 30, 2014, the Company paid the $500 earn-out consideration to OSB. The fair value of the remaining contingent consideration at September 30, 2014 is $4,403.  The change in fair value of $861 was recorded as a change to selling, general and administration expenses in the six months ended September 30, 2014.
	Under the terms of the Asset Purchase Agreement, the Company agreed to offer employment to all of the employees of OSB, including certain key employees and the sole member of OSB.
	There are no material relationships between the Company or any of its affiliates and any of the parties to the Asset Purchase Agreement and related agreements, other than with respect to such agreements themselves.
	On January 2, 2014, Virtusa International B.V., a wholly owned subsidiary of the Company organized and formed in the Netherlands (“Virtusa BV”), acquired all of the outstanding shares of TradeTech and its subsidiaries (together with TradeTech, the “TradeTech Group”), pursuant to a share purchase agreement dated as of January 2, 2014 (the “Share Purchase Agreement”) by and among Virtusa BV and the shareholders of TradeTech. The acquisition expands the Company’s position within the banking, financial services and insurance industries by increasing its asset management and treasury services domain and technology expertise, as well as by expanding the Company’s global presence into the Nordics.
	Under the terms of the Share Purchase Agreement, Virtusa BV acquired all the outstanding shares of TradeTech for $19,087 in cash, reflective of a working capital adjustment as part of the Share Purchase Agreement, subject to adjustment after the closing by up to $4,080 of potential earn-out consideration contingent upon TradeTech Group’s achievement of certain revenue and EBITA targets for the 12-month period ending December 31, 2014. At June 30, 2014, the Company determined that the earn-out consideration targets would not be achieved for the 12-month period ending December 31, 2014, resulting in a reduction in fair value of $1,833 for the six months ended September 30, 2014.  At September 30, 2014, there is no liability recorded. The reduction of the entire fair value of the earn-out consideration of $1,833 was recorded as a reduction to selling, general and administration expenses in the six-month period ended September 30, 2014.  Under the terms of the Share Purchase Agreement, 12.5% of the purchase price was also held back and placed into escrow by the Company for a period of 12 months as security for the indemnification obligations of the TradeTech Shareholders. The Company also agreed to issue an aggregate of up to $2,000 in deferred restricted stock awards from the Company’s stock option and incentive plan, not to exceed an aggregate of 65,000 shares, to certain of these new TradeTech Group employees. The shares will be recognized as compensation cost over the requisite employee service period. The shares will vest annually over a five year period.

Goodwill_and_Intangible_Assets

Goodwill and Intangible Assets	6 Months Ended
	Sep. 30, 2014
Goodwill and Intangible Assets	'
Goodwill and Intangible Assets	'
	(8) Goodwill and Intangible Assets
	Goodwill:
	The Company has one reportable segment at September 30, 2014. The following are details of the changes in goodwill balance at September 30, 2014:
		Amount
	Balance at April 1, 2014	$	53,448
	Cumulative foreign currency translation adjustments	(1,318		)
	Balance at September 30, 2014	$	52,130
	The acquisition costs and goodwill balance deductible for the Company’s business acquisitions for tax purposes are $41,834. The acquisition costs and goodwill balance not deductible for tax purposes are $11,688 and relate to the Company’s TradeTech acquisition.
	The Company performed the annual assessment of its goodwill during the fourth quarter of the fiscal year ended March 31, 2014 and determined that the estimated fair value of the Company’s reporting unit exceeded its carrying value and therefore goodwill was not impaired. The Company will continue to complete goodwill impairment assessments at least annually during the fourth quarter of each ensuing fiscal year. The Company will continue to evaluate whether events or circumstances have occurred that indicate that the estimated remaining useful life of its long-lived assets, including intangible assets, may warrant revision or that the carrying value of these assets may be impaired. Any write -downs are treated as permanent reductions in the carrying amount of the assets.
	Intangible Assets:
	The following are details of the Company’s intangible asset carrying amounts acquired and amortization at September 30, 2014.
		Weighted Average		Gross Carrying		Accumulated		Net Carrying
		Useful Life		Amount		Amortization		Amount
	Amortizable intangible assets:
	Customer relationships	9.4		$	35,415	$	10,581	$	24,834
	Partner relationships	6.5		700		544		156
	Trademark	1.0		68		50		18
	Backlog	1.0		1,355		1,145		210
		9.0		$	37,538	$	12,320	$	25,218

Income_Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2014
Income Taxes	'
Income Taxes	'
	(9) Income Taxes
	The Company’s effective tax rate was 25.1% and 25.7% for the three and six months ended September 30, 2014, as compared to an effective tax rate of 24.3% and 24.8% for the three and six months ended September 30, 2013. The increase in the effective tax rate for three months ended September 30, 2014 was primarily due to geographical income distribution and expiration of certain holiday benefits in India.  This was partially offset by new tax benefits generated from special economic zone (“SEZ”) tax holiday incentives located in Bangalore and Pune, India.  The increase in the effective tax rate in the six months ended September 30, 2014 was primarily due to geographical income distribution and expiration of certain tax benefits in India. This was partially offset by a tax benefit associated with the reduction in fair value of $1.8 million in the six month period ended September 30, 2014 related to the determination that Trade Tech would not achieve its performance targets for earn-out consideration.
	One of the Company’s Indian subsidiaries, Virtusa (India) Private Limited, merged with Virtusa Consulting Services Private Limited (collectively referred to as “Virtusa India”), is an export oriented company. The Indian Income Tax Act of 1961 entitles taxpayers to claim tax exemption for a period of ten consecutive years for each Software Technology Park (“STP”) that it operates.  Virtusa India operates two STPs, one in Chennai and one in Hyderabad, India. The STP tax holiday in Hyderabad, India expired on March 31, 2010 and the STP tax holiday in Chennai, India expired on March 31, 2011. For the three and six months ended September 30, 2014 and 2013, all profits in the STPs in Hyderabad and Chennai, India were fully taxable at the Indian statutory tax rate of 34.0%. In anticipation of, and to mitigate the impact of, the phase-out of the STP tax holidays in Hyderabad and Chennai, India, the Company located new Indian operations in areas designated as an SEZ under the SEZ Act of 2005 through two operating subsidiaries, Virtusa Software Services Private Limited and Virtusa Consulting Services Private Limited. In the fiscal year ended March 31, 2014, the Company leased a facility in SEZ designated locations in Bangalore and Pune, India, each of which is eligible for tax holiday benefits that began in the fiscal year ended March 31, 2014.The Company’s profits from these SEZ operations are eligible for certain additional income tax exemptions for a period of up to 15 years based on export income.
	In addition, the Company’s Sri Lankan subsidiary, Virtusa (Private) Limited, is operating under a 12 year income tax holiday arrangement that is set to expire on March 31, 2019 and which required Virtusa (Private) Limited to meet certain job creation and investment criteria by March 31, 2014. During the fiscal year ended March 31, 2014, the Company believes it fulfilled its hiring and investment commitments and is eligible for the tax holiday benefits through March 2019. The current agreement provides income tax exemption for all export business income. The Company has submitted the required support to the Sri Lanka Board of Investment and is awaiting confirmation. At September 30, 2014, the Company believes it is eligible for the entire 12 year tax holiday.
	The Company’s effective income tax rate is based on the composition of estimated income in different jurisdictions, including those where the Company is enjoying tax holidays, for the applicable fiscal year and adjustments, if any, in the applicable quarterly periods, for unrecognized tax benefits for uncertain income tax positions or other discrete items required to be reported during interim periods. The Company’s aggregate income tax rate in foreign jurisdictions is lower than its income tax rate in the United States due primarily to lower rates generally in jurisdictions in which the Company operates and applicable tax holiday benefits of the Company, obtained primarily in India and Sri Lanka.
	Unrecognized tax benefits represent uncertain tax positions for which the Company has established reserves. At September 30, 2014 and March 31, 2014, the total liability for unrecognized tax benefits was $388 and $410, respectively, all of which would negatively impact the Company’s annual effective tax rate, if realized. Each fiscal year, unrecognized tax benefits may be adjusted upon the closing of the statute of limitations for income tax returns filed in various jurisdictions. During the six months ended September 30, 2014 and September 30, 2013, the unrecognized tax benefits decreased by $22 and $3,884, respectively. The decrease in unrecognized tax benefits in the six month period ending September 30, 2014 was predominantly due to a cash settlement with tax authorities, partially offset by increases for incremental interest accrued on existing uncertain tax positions.
	The Company files U.S. federal income tax returns as well as income tax returns in various states and foreign jurisdictions. Recently, the Internal Revenue Service (“IRS”) conducted a routine audit of the Company’s fiscal years 2008 to 2011, pursuant to which the IRS made certain assessments. In connection with the audit, during the fourth quarter of fiscal year 2013, the Company executed a settlement arrangement with the IRS for all periods under audit to close out the audit. The Company had fully accrued for all such assessments and the settlement impact on the Company’s financial statements is properly reflected at September 30, 2014.
	The Company’s U.S. tax return for the fiscal year ended March 31, 2012 was recently audited by the IRS pursuant to which the IRS made certain assessments.  During the three months ended June 30, 2014, the Company executed a settlement agreement with the IRS for the fiscal year ended March 31, 2012.   The Company has fully accrued for all such assessments and the settlement impact on the Company’s financial statements is properly reflected at September 30, 2014.  In addition, tax returns for various years are under examination by tax authorities of foreign jurisdictions. Currently, several issues are at various levels of appeal with the Indian and Sri Lankan tax authorities. While it is difficult to predict the final outcome, the Company believes its reserves represent the most likely outcome and continues to evaluate all tax return positions.
	Undistributed Earnings of Foreign Subsidiaries
	A substantial amount of the Company’s income before provision for income tax is from operations earned in its Indian and Sri Lankan subsidiaries and is subject to tax holiday. The Company intends to use accumulated and future earnings of foreign subsidiaries to expand operations outside the United States and, accordingly, undistributed income is considered to be indefinitely reinvested. The Company does not provide for U.S. income taxes on foreign earnings. At September 30, 2014, the Company had $175.9 million of unremitted earnings from foreign subsidiaries and approximately $85.4 million of cash and short-term investments that would otherwise be available for potential distribution, if not indefinitely reinvested. If required, such cash and investments could be repatriated to the United States. However, under current law, any repatriation would be subject to United States federal income tax less applicable foreign tax credits. Due to the various methods by which such earnings could be repatriated in the future, the amount of taxes attributable to the undistributed earnings is not practicably determinable.

Concentration_of_Revenue_and_A

Concentration of Revenue and Assets	6 Months Ended
	Sep. 30, 2014
Concentration of Revenue and Assets	'
Concentration of Revenue and Assets	'
	(10) Concentration of Revenue and Assets
	Total revenue is attributed to geographic areas based on the location of the client. Long-lived assets represent property, plant and equipment, intangible assets and goodwill, net of accumulated depreciation and amortization, and are attributed to geographic area based on their location. Geographic information is summarized as follows:
		Three Months Ended						Six Months Ended
		September 30,						September 30,
		2014			2013			2014		2013
	Client revenue:
	North America	$	75,985		$	67,740		$	149,448	$	135,006
	Europe	34,586			21,484			66,484		39,823
	Rest of world	7,129			5,077			14,042		9,961
	Consolidated revenue	$	117,700		$	94,301		$	229,974	$	184,790
		September 30,			March 31,
		2014			2014
	Long-lived assets, net of accumulated depreciation and amortization:
	United States	$	60,205		$	61,562
	Asia	30,970			32,235
	Europe	21,493			23,658
	Consolidated long-lived assets, net	$	112,668		$	117,455
	Revenue from significant clients as a percentage of the Company’s consolidated revenue was as follows:
		Three Months Ended				Six Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Customer 1	12.6	%	12.6	%	12.8	%	11.9	%

Debt

Debt	6 Months Ended
	Sep. 30, 2014
Debt	'
Debt	'
	(11) Debt
	On December 31, 2013, the Company entered into an amended and restated credit agreement with JPMorgan Chase Bank, N.A. (“JPM”). The credit agreement amended and restated the Company’s $3,000 secured revolving credit agreement with JPM and provides for a $25,000 secured revolving credit facility, which shall be available to fund working capital and other corporate purposes, as well as to serve as security in support of the Company’s foreign currency hedging programs. The credit agreement contains financial covenants that require the Company to maintain a Funded Debt to Adjusted EBITDA Ratio of not more than 2.00 to 1.00 and a Fixed Charge Coverage Ratio of less than 2.50 to 1.00, each as determined for the trailing twelve month period ending on each fiscal quarter. The Company is currently in compliance with all covenants contained in the credit agreement and believes that the credit agreement provides sufficient flexibility to enable continued compliance with its terms. Interest under this credit facility accrues at a rate between LIBOR plus 1.5% and LIBOR plus 1.75% based on the Company’s ratio of indebtedness to Adjusted EBITDA. Based on this ratio, the interest rate at December 31, 2013 under the credit facility was 1.6875%. The term of the credit facility is five years, ending December 31, 2018. This facility replaced the Company’s prior $3,000 line of credit with JPM. At September 30, 2014, there were no borrowings outstanding under the credit facility.
	Beginning in fiscal 2009, the Company’s U.K. subsidiary entered into an agreement with a financial institution to sell, without recourse, certain of its Europe-based accounts receivable balances to the financial institution. During the six months ended September 30, 2014, $11,271 of receivables was sold under the terms of the financing agreement. Fees paid pursuant to this agreement were immaterial during the three and six months ended September 30, 2014. No amounts were outstanding under the financing agreement at September 30, 2014.

Pensions_and_postretirement_be

Pensions and post-retirement benefits	6 Months Ended
	Sep. 30, 2014
Pensions and post-retirement benefits	'
Pensions and post-retirement benefits	'
	(12) Pensions and post-retirement benefits
	The Company has noncontributory defined benefit plans covering its employees in India and Sri Lanka as mandated by the Indian and Sri Lankan governments. The following tables provide information regarding pension expense recognized:
		Three Months Ended						Six Months Ended
		September 30,						September 30,
		2014			2013			2014			2013
	Components of net periodic pension cost
	Service cost	$	135		$	128		$	271		$	268
	Interest cost	59			50			118			104
	Expected return on plan assets	(54		)	(51		)	(108		)	(106		)
	Amortization past service cost	2			2			5			5
	Amortization of actuarial loss	24			22			48			45
	Net periodic pension cost	$	166		$	151		334			$	316
	The Company expects to contribute approximately $508 in cash to the pension plans during the fiscal year ending March 31, 2015. The Company made cash contributions of $333 to the plans during the six months ended September 30, 2014.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	6 Months Ended
	Sep. 30, 2014
Accumulated Other Comprehensive Loss	'
Accumulated Other Comprehensive Loss	'
	(13) Accumulated Other Comprehensive Loss
	Changes in accumulated other comprehensive income (loss) by component were as follows for the three and six months ended September 30, 2014 and 2013:
	Accumulated Other Comprehensive Income (Loss)	Three Months Ended						Six Months Ended
		September 30,						September 30,
	(In thousands, except per share amounts)	2014			2013			2014			2013
	Investment securities
	Beginning balance	$	(4	)	$	(21	)	$	(54	)	$	(3	)
	Other comprehensive income (loss) (OCI) before reclassifications net of tax of $0 for all periods	(91		)	21			(41		)	(3		)
	Reclassifications from OCI to other income — net of tax of $0 for all periods				—						6
	Comprehensive income (loss) on investment securities, net of tax of $0 for all periods	(91		)	21			(41		)	3
	Closing Balance	$	(95	)	$	—		$	(95	)	$	—
	Currency Translation Adjustments
	Beginning balance	$	(23,454	)	$	(25,163	)	$	(23,253	)	$	(16,918	)
	OCI before reclassifications	(5,249		)	(2,683		)	(5,450		)	(10,928		)
	Closing Balance	$	(28,703	)	$	(27,846	)	$	(28,703	)	$	(27,846	)
	Cash Flow Hedges
	Beginning balance	$	(3,168	)	$	(5,923	)	$	(3,829	)	$	(1,013	)
	OCI before reclassifications net of tax of $105, $(2,647), $361 and $(5,503)	967			(5,932		)	1,153			(11,462		)
	Reclassifications from OCI to
	- Costs of revenue, net of tax of $228, $505, $329 and $724	543			958			836			1,333
	- Selling, general and administrative expenses, net of tax of $127, $313, $188 and $454	300			592			482			837
	Comprehensive income (loss) on cash flow hedges, net of tax of $460, $(1829), $878 and $(4,326)	1,810			(4,382		)	2,471			(9,292		)
	Closing Balance	$	(1,358	)	$	(10,305	)	$	(1,358	)	$	(10,305	)
	Benefit plans
	Beginning balance	$	(591	)	$	(704	)	$	(578	)	$	(780	)
	Reclassifications from OCI for prior service credit (cost) to:
	- Costs of revenue, net of tax of $0 for all periods	2			2			4			4
	- Selling, general and administrative expenses, net of tax of $0 for all periods	—			1			1			2
	Reclassifications from OCI for net actuarial gain (loss) amortization to:
	- Costs of revenue, net of tax of $0 for all periods	14			17			29			35
	- Selling, general and administrative expenses, net of tax of $0 for all periods	10			5			19			10
	Other adjustments				42			(40		)	92
	Comprehensive income (loss) on benefit plans, net of tax of $0 for all periods	26			67			13			143
	Closing Balance	$	(565	)	$	(637	)	$	(565	)	$	(637	)
	Accumulated other comprehensive income (loss) at September 30, 2013	$	(30,721	)	$	(38,788	)	$	(30,721	)	$	(38,788	)

Subsequent_Events

Subsequent Events	6 Months Ended
	Sep. 30, 2014
Subsequent Events	'
Subsequent Events	'
	(14) Subsequent Events
	On October 16, 2014, the Company purchased multiple foreign currency forward contracts designed to hedge fluctuation in the U.K. pound sterling against the U.S. dollar. The contracts have an aggregate notional amount of approximately £7,378 (approximately $11,729) and will expire on various dates through December 31, 2014. The weighted average U.K. pound sterling settlement rate associated with these contracts is approximately $1.59.
	On October 16, 2014, the Company purchased multiple foreign currency forward contracts designed to hedge fluctuation in the Swedish krona (“SEK”) against the U.S. dollar. The contracts have an aggregate notional amount of approximately SEK 6,007 (approximately $847) and will expire on various dates during the period ending December 31, 2014. The weighted average U.S. dollar settlement rate associated with these contracts is approximately $0.14.

Unaudited_Interim_Financial_In1

Unaudited Interim Financial Information (Policies)	6 Months Ended
	Sep. 30, 2014
Unaudited Interim Financial Information	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying unaudited consolidated financial statements have been prepared by the Company in accordance with U.S. generally accepted accounting principles and Article 10 of Regulation S-X under the Securities and Exchange Act of 1934, as amended, and should be read in conjunction with the Company’s audited consolidated financial statements (and notes thereto) for the fiscal year ended March 31, 2014 included in the Company’s Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission, or SEC, on May 23, 2014. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted pursuant to such SEC rules and regulations. In the opinion of the Company’s management, all adjustments considered necessary for a fair presentation of the accompanying unaudited consolidated financial statements have been included, and all material adjustments are of a normal and recurring nature. Operating results for the interim periods are not necessarily indicative of results that may be expected to occur for the entire fiscal year.
Principles of Consolidation	'
	Principles of Consolidation
	The consolidated financial statements reflect the accounts of the Company and its direct and indirect subsidiaries, Virtusa Consulting Services Private Limited and Virtusa Software Services Private Limited, each organized and located in India, Virtusa (Private) Limited, organized and located in Sri Lanka, Virtusa UK Limited, organized and located in the United Kingdom, Virtusa Securities Corporation, a Massachusetts securities corporation, InSource Holdings, Inc., a company incorporated in the State of Connecticut, InSource LLC, a Connecticut limited liability company located in Connecticut, Virtusa International, B.V., organized and located in the Netherlands, Virtusa Hungary Kft., incorporated and located in Hungary, Virtusa Germany GmbH, organized and located in Germany, Virtusa Singapore Private Limited, organized and located in Singapore, Virtusa Malaysia Private Limited, organized and located in Malaysia, Virtusa Austria GmbH, organized and located in Austria, Virtusa Philippines Inc., organized and located in the Philippines and TradeTech Consulting Scandinavia AB, organized and located in Sweden. All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including the recoverability of tangible assets, disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenue and expenses during the reported period. Management reevaluates these estimates on an ongoing basis. The most significant estimates relate to the recognition of revenue and profits based on the percentage of completion method of accounting for fixed price contracts, share based compensation, income taxes, including reserves for uncertain tax positions, deferred taxes and liabilities, intangible assets, contingent consideration and valuation of financial instruments including derivative contracts and investments. Management bases its estimates on historical experience and on various other factors and assumptions that are believed to be reasonable under the circumstances. The actual amounts may vary from the estimates used in the preparation of the accompanying consolidated financial statements.
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments
	At September 30, 2014 and March 31, 2014, the carrying amounts of certain of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, unbilled accounts receivable, restricted cash, accounts payable, accrued employee compensation and benefits and other accrued expenses, approximate their fair values due to the nature of the items. See Note 5 for a discussion of the fair value of the Company’s other financial instruments.

Net_Income_per_Share_Tables

Net Income per Share (Tables)	6 Months Ended
	Sep. 30, 2014
Net Income per Share	'
Schedule of computation of basic and diluted net income per share	'
		Three Months Ended				Six Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Numerators:
	Net income	$	10,114	$	7,478	$	19,117	$	15,000
	Denominators:
	Weighted average common shares outstanding	28,695,642		25,553,237		28,586,223		25,423,169
	Dilutive effect of employee stock options and unvested restricted stock	720,156		741,771		797,595		791,640
	Dilutive effect of stock appreciation rights	8,569		14,390		9,006		15,430
	Weighted average shares-diluted	29,424,367		26,309,398		29,392,824		26,230,239
	Net income per share-basic	$	0.35	$	0.29	$	0.67	$	0.59
	Net income per share-diluted	$	0.34	$	0.28	$	0.65	$	0.57

Investment_Securities_Tables

Investment Securities (Tables)	6 Months Ended
	Sep. 30, 2014
Investment Securities	'
Schedule of investment securities	'
	The following is a summary of investment securities at September 30, 2014:
		Amortized		Gross		Gross			Fair
		Cost		Unrealized		Unrealized			Value
				Gains		Losses
	Available-for-sale securities:
	Corporate bonds:
	Current	$	35,831	$	6	$	(27	)	$	35,810
	Non-current	40,731		2		(91		)	40,642
	Auction-rate securities:
	Non-current	300		—		(11		)	289
	Agency and short-term notes:
	Current	1,420		1		—			1,421
	Non-current	12,484		1		(9		)	12,476
	Commercial paper:
	Current	—		—		—			—
	Municipal bonds:
	Non-current	200		—		—			200
	Time deposits:
	Current	30,350		—		—			30,350
	Total available-for-sale securities	$	121,316	$	10	$	(138	)	$	121,188
	The following is a summary of investment securities at March 31, 2014:
		Amortized		Gross		Gross			Fair
		Cost		Unrealized		Unrealized			Value
				Gains		Losses
	Available-for-sale securities:
	Corporate bonds:
	Current	$	20,255	$	9	$	(8	)	$	20,256
	Non-current	50,264		5		(70		)	50,199
	Auction-rate securities:
	Non-current	300		—		(12		)	288
	Agency and short-term notes:
	Current	561		—		—			561
	Non-current	11,341		1		(14		)	11,328
	Commercial paper:
	Current	5,497		—		—			5,497
	Municipal bonds:
	Non-current	200		—		—			200
	Time deposits:
	Current	29,574		—		—			29,574
	Total available-for-sale securities	$	117,992	$	15	$	(104	)	$	117,903

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Sep. 30, 2014
Fair Value of Financial Instruments	'
Schedule of financial assets and liabilities measured at fair value on a recurring basis	'
	The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis at September 30, 2014:
		Level 1			Level 2		Level 3		Total
	Assets:
	Investments:
	Available-for-sales securities—current	$	—		$	67,581	$	—	$	67,581
	Available-for-sales securities—non-current	—			53,318		289		53,607
	Foreign currency derivative contracts	—			1,794		—		1,794
	Total assets	$	—		$	122,693	$	289	$	122,982
	Liabilities:
	Foreign currency derivative contracts	$	—		$	3,835	$	—	$	3,835
	Contingent consideration	—			—		4,403		4,403
	Total liabilities	$	—		$	3,835	$	4,403	$	8,238
Schedule of changes in fair value of Level 3 financial assets	'
	The following table provides a summary of changes in fair value of the Company’s Level 3 financial assets at September 30, 2014:
		Level 3
		Assets
	Balance at April 1, 2014	$	288
	Total unrealized gains:
	Included in accumulated other comprehensive income	1
	Balance at September 30, 2014	$	289
Schedule of changes in fair value of the Company's Level 3 financial liabilities	'
	The following table provides a summary of changes in fair value of the Company’s Level 3 financial liabilities at September 30, 2014.
		Level 3
		Liabilities
	Balance at April 1, 2014	$	5,925
	Payment of OSB contingent consideration (See Note 7)	(500		)
	Reversal of the TradeTech earn-out recognized in earnings (See Note 7)	(1,833		)
	Increase of the OSB earn-out recognized in earnings (See Note 7)	861
	Cumulative foreign currency translation adjustments	(50		)
	Balance at September 30, 2014	$	4,403

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	6 Months Ended
	Sep. 30, 2014
Derivative Financial Instruments	'
Schedule of fair value of derivative instruments included in the consolidated balance sheets	'
		September 30, 2014			March 31, 2014
	Foreign currency exchange contracts:
	Other current assets	$	1,174		$	398
	Other long-term assets	$	620		$	586
	Accrued expenses and other current liabilities	$	2,433		$	3,925
	Long-term liabilities	$	1,402		$	2,449
Schedule of effect of the foreign currency exchange contracts on the consolidated financial statements	'
	The following tables set forth the effect of the Company’s foreign currency exchange contracts on the consolidated financial statements of the Company for the three and six months ended September 30, 2014 and 2013:
		Amount of Gain or (Loss) Recognized in AOCI on Derivative
		(Effective Portion)
	Derivatives Designated as Cash Flow	Three months ended September 30,						Six months ended September 30,
	Hedging Relationships	2014			2013			2014			2013
	Foreign currency exchange contracts	$	1,072		$	(8,579	)	$	1,514		$	(16,965	)
	Location of Gain or (Loss) Reclassified	Amount of Gain or (Loss) Reclassified from AOCI into Income
		(Effective Portion)
	from AOCI into Income (Effective	Three months ended September 30,						Six months ended September 30,
	Portion)	2014			2013			2014			2013
	Costs of revenue	$	(771	)	$	(1,463	)	$	(1,165	)	$	(2,057	)
	Operating expenses	$	(427	)	$	(905	)	$	(670	)	$	(1,290	)
				Amount of Gain or (Loss) Recognized in Income on Derivatives
	Derivatives not Designated	Location of Gain or (Loss)		Three months ended						Six months ended
				September 30,						September 30,
	as Hedging Instrument	Recognized in Income on Derivatives		2014			2013			2014			2013
	Foreign currency exchange contracts	Foreign currency transaction gains (losses)		$	166		$	(1,845	)	$	(83	)	$	(3,454	)
		Revenue		$	284		$	(379	)	$	136		$	(480	)
		Costs of revenue		$	(129	)	$	130		$	(80	)	$	184
		Selling, general and administrative expenses		$	(23	)	$	17		$	(14	)	$	21

Goodwill_and_Intangible_Assets1

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Sep. 30, 2014
Goodwill and Intangible Assets	'
Schedule of changes in goodwill	'
	The following are details of the changes in goodwill balance at September 30, 2014:
		Amount
	Balance at April 1, 2014	$	53,448
	Cumulative foreign currency translation adjustments	(1,318		)
	Balance at September 30, 2014	$	52,130
Schedule of carrying amount and accumulated amortization of intangible asset	'
	The following are details of the Company’s intangible asset carrying amounts acquired and amortization at September 30, 2014.
		Weighted Average		Gross Carrying		Accumulated		Net Carrying
		Useful Life		Amount		Amortization		Amount
	Amortizable intangible assets:
	Customer relationships	9.4		$	35,415	$	10,581	$	24,834
	Partner relationships	6.5		700		544		156
	Trademark	1.0		68		50		18
	Backlog	1.0		1,355		1,145		210
		9.0		$	37,538	$	12,320	$	25,218

Concentration_of_Revenue_and_A1

Concentration of Revenue and Assets (Tables)	6 Months Ended
	Sep. 30, 2014
Concentration of Revenue and Assets	'
Schedule of revenue attributed to geographic areas based on location of the client	'
		Three Months Ended						Six Months Ended
		September 30,						September 30,
		2014			2013			2014		2013
	Client revenue:
	North America	$	75,985		$	67,740		$	149,448	$	135,006
	Europe	34,586			21,484			66,484		39,823
	Rest of world	7,129			5,077			14,042		9,961
	Consolidated revenue	$	117,700		$	94,301		$	229,974	$	184,790
Schedule of long-lived assets, net of accumulated depreciation and amortization attributed to geographic areas based on location of assets	'
		September 30,			March 31,
		2014			2014
	Long-lived assets, net of accumulated depreciation and amortization:
	United States	$	60,205		$	61,562
	Asia	30,970			32,235
	Europe	21,493			23,658
	Consolidated long-lived assets, net	$	112,668		$	117,455
Schedule of revenue from significant clients as a percentage of consolidated revenue	'
		Three Months Ended				Six Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Customer 1	12.6	%	12.6	%	12.8	%	11.9	%

Pensions_and_postretirement_be1

Pensions and post-retirement benefits (Tables)	6 Months Ended
	Sep. 30, 2014
Pensions and post-retirement benefits	'
Schedule of pension expense recognized	'
		Three Months Ended						Six Months Ended
		September 30,						September 30,
		2014			2013			2014			2013
	Components of net periodic pension cost
	Service cost	$	135		$	128		$	271		$	268
	Interest cost	59			50			118			104
	Expected return on plan assets	(54		)	(51		)	(108		)	(106		)
	Amortization past service cost	2			2			5			5
	Amortization of actuarial loss	24			22			48			45
	Net periodic pension cost	$	166		$	151		334			$	316

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Sep. 30, 2014
Accumulated Other Comprehensive Loss	'
Schedule of changes in accumulated other comprehensive income (loss) by component	'
	Accumulated Other Comprehensive Income (Loss)	Three Months Ended						Six Months Ended
		September 30,						September 30,
	(In thousands, except per share amounts)	2014			2013			2014			2013
	Investment securities
	Beginning balance	$	(4	)	$	(21	)	$	(54	)	$	(3	)
	Other comprehensive income (loss) (OCI) before reclassifications net of tax of $0 for all periods	(91		)	21			(41		)	(3		)
	Reclassifications from OCI to other income — net of tax of $0 for all periods				—						6
	Comprehensive income (loss) on investment securities, net of tax of $0 for all periods	(91		)	21			(41		)	3
	Closing Balance	$	(95	)	$	—		$	(95	)	$	—
	Currency Translation Adjustments
	Beginning balance	$	(23,454	)	$	(25,163	)	$	(23,253	)	$	(16,918	)
	OCI before reclassifications	(5,249		)	(2,683		)	(5,450		)	(10,928		)
	Closing Balance	$	(28,703	)	$	(27,846	)	$	(28,703	)	$	(27,846	)
	Cash Flow Hedges
	Beginning balance	$	(3,168	)	$	(5,923	)	$	(3,829	)	$	(1,013	)
	OCI before reclassifications net of tax of $105, $(2,647), $361 and $(5,503)	967			(5,932		)	1,153			(11,462		)
	Reclassifications from OCI to
	- Costs of revenue, net of tax of $228, $505, $329 and $724	543			958			836			1,333
	- Selling, general and administrative expenses, net of tax of $127, $313, $188 and $454	300			592			482			837
	Comprehensive income (loss) on cash flow hedges, net of tax of $460, $(1829), $878 and $(4,326)	1,810			(4,382		)	2,471			(9,292		)
	Closing Balance	$	(1,358	)	$	(10,305	)	$	(1,358	)	$	(10,305	)
	Benefit plans
	Beginning balance	$	(591	)	$	(704	)	$	(578	)	$	(780	)
	Reclassifications from OCI for prior service credit (cost) to:
	- Costs of revenue, net of tax of $0 for all periods	2			2			4			4
	- Selling, general and administrative expenses, net of tax of $0 for all periods	—			1			1			2
	Reclassifications from OCI for net actuarial gain (loss) amortization to:
	- Costs of revenue, net of tax of $0 for all periods	14			17			29			35
	- Selling, general and administrative expenses, net of tax of $0 for all periods	10			5			19			10
	Other adjustments				42			(40		)	92
	Comprehensive income (loss) on benefit plans, net of tax of $0 for all periods	26			67			13			143
	Closing Balance	$	(565	)	$	(637	)	$	(565	)	$	(637	)
	Accumulated other comprehensive income (loss) at September 30, 2013	$	(30,721	)	$	(38,788	)	$	(30,721	)	$	(38,788	)

Net_Income_per_Share_Details

Net Income per Share (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Numerators:	'	'	'	'
Net income	$10,114	$7,478	$19,117	$15,000
Denominators:	'	'	'	'
Weighted average common shares outstanding	28,695,642	25,553,237	28,586,223	25,423,169
Dilutive effect of employee stock options and unvested restricted stock (in shares)	720,156	741,771	797,595	791,640
Dilutive effect of stock appreciation rights (in shares)	8,569	14,390	9,006	15,430
Weighted average shares-diluted	29,424,367	26,309,398	29,392,824	26,230,239
Net income per share-basic (in dollars per share)	$0.35	$0.29	$0.67	$0.59
Net income per share-diluted (in dollars per share)	$0.34	$0.28	$0.65	$0.57
Options excluded from the calculations of diluted earnings per share (in shares)	22,471	26,204	47,849	71,795

Investment_Securities_Details

Investment Securities (Details) (USD $)	Sep. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Investment Securities	'	'
Amortized Cost	$121,316	$117,992
Gross Unrealized Gains	10	15
Gross Unrealized Losses	-138	-104
Fair Value	121,188	117,903
Corporate bonds | Current	'	'
Investment Securities	'	'
Amortized Cost	35,831	20,255
Gross Unrealized Gains	6	9
Gross Unrealized Losses	-27	-8
Fair Value	35,810	20,256
Corporate bonds | Non-current	'	'
Investment Securities	'	'
Amortized Cost	40,731	50,264
Gross Unrealized Gains	2	5
Gross Unrealized Losses	-91	-70
Fair Value	40,642	50,199
Auction-rate securities | Non-current	'	'
Investment Securities	'	'
Amortized Cost	300	300
Gross Unrealized Losses	-11	-12
Fair Value	289	288
Agency and short-term notes | Current	'	'
Investment Securities	'	'
Amortized Cost	1,420	561
Gross Unrealized Gains	1	'
Fair Value	1,421	561
Agency and short-term notes | Non-current	'	'
Investment Securities	'	'
Amortized Cost	12,484	11,341
Gross Unrealized Gains	1	1
Gross Unrealized Losses	-9	-14
Fair Value	12,476	11,328
Commercial paper | Current	'	'
Investment Securities	'	'
Amortized Cost	'	5,497
Fair Value	'	5,497
Municipal bonds | Non-current	'	'
Investment Securities	'	'
Amortized Cost	200	200
Fair Value	200	200
Time deposits | Current	'	'
Investment Securities	'	'
Amortized Cost	30,350	29,574
Fair Value	$30,350	$29,574

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (USD $)	Sep. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Level 3	'	'
Liabilities:	'	'
Total liabilities	$4,403	$5,925
Recurring | Level 2	'	'
Investments:	'	'
Available-for-sale securities - current	67,581	'
Available-for-sale securities - non-current	53,318	'
Foreign currency derivative contracts	1,794	'
Total assets	122,693	'
Liabilities:	'	'
Foreign currency derivative contracts	3,835	'
Total liabilities	3,835	'
Recurring | Level 3	'	'
Investments:	'	'
Available-for-sale securities - non-current	289	'
Total assets	289	'
Liabilities:	'	'
Contingent consideration	4,403	'
Total liabilities	4,403	'
Recurring | Total	'	'
Investments:	'	'
Available-for-sale securities - current	67,581	'
Available-for-sale securities - non-current	53,607	'
Foreign currency derivative contracts	1,794	'
Total assets	122,982	'
Liabilities:	'	'
Foreign currency derivative contracts	3,835	'
Contingent consideration	4,403	'
Total liabilities	$8,238	'

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Details 2) (USD $)	3 Months Ended		6 Months Ended					6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
					OSB	Level 3	Level 3	Level 3	Level 3	Auction-rate securities
								OSB	TradeTech
Summary of changes in fair value of the Company's Level 3 financial assets	'	'	'	'	'	'	'	'	'	'
Balance at the beginning of the period	'	'	'	'	'	'	'	'	'	$288
Total unrealized gains:	'	'	'	'	'	'	'	'	'	'
Included in accumulated other comprehensive income	'	'	'	'	'	'	'	'	'	1
Balance at the end of the period	'	'	'	'	'	'	'	'	'	289
Changes in fair value of the Company's Level 3 financial liabilities	'	'	'	'	'	'	'	'	'	'
Payout of OSB contingent consideration (See Note7)	'	'	'	'	'	'	'	-500	'	'
Increase (decrease) in contingent consideration (See Note 7)	'	'	-1,833	'	861	'	'	861	-1,833	'
Cumulative foreign currency translation adjustments	-5,249	-2,683	-5,450	-10,928	'	-50	'	'	'	'
Balance at end of period	'	'	'	'	'	$4,403	$5,925	'	'	'

Derivative_Financial_Instrumen2

Derivative Financial Instruments (Details) (Foreign currency exchange contracts, USD $)	3 Months Ended	6 Months Ended		3 Months Ended	6 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2014	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014
		item		Derivatives designated as hedging instruments	Derivatives designated as hedging instruments	Derivatives designated as hedging instruments	Derivatives designated as hedging instruments	Derivatives designated as hedging instruments	Derivatives not Designated as Hedging Instrument
							Cash Flow Hedges	Cash Flow Hedges
							Reclassification out of accumulated other comprehensive income	Reclassification out of accumulated other comprehensive income
Derivative Financial Instruments and Trading Activities	'	'	'	'	'	'	'	'	'
Number of hedging programs maintained	'	3	'	'	'	'	'	'	'
Period hedged by Cash Flow Program	'	'	'	'	'36 months	'	'	'	'
Maturity period of Balance Sheet Program derivatives	'	'	'	'	'	'	'	'	'30 months
Additional period after which the contract is deemed ineffective	'	'	'	'	'2 months	'	'	'	'
Amount reclassified to earnings as a result of hedge ineffectiveness	'	'	'	'	'	'	$0	$0	'
U.S. dollar notional equivalent market value	113,334	113,334	102,801	'	'	'	'	'	'
Unrealized net losses related to derivative instruments expected to be reclassified from AOCI into earnings during the next 12 months	'	'	'	1,259	'	'	'	'	'
Maximum outstanding term of derivative instruments	'33 months	'	'	'	'	'	'	'	'92 days
Other current assets	'	'	'	1,174	1,174	398	'	'	'
Other long-term assets	'	'	'	620	620	586	'	'	'
Accrued expenses and other current liabilities	'	'	'	2,433	2,433	3,925	'	'	'
Long-term liabilities	'	'	'	$1,402	$1,402	$2,449	'	'	'

Derivative_Financial_Instrumen3

Derivative Financial Instruments (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Costs of revenue	'	'	'	'
Derivative Financial Instruments	'	'	'	'
Amount of Gain or (Loss) Reclassified from AOCI into Income (Effective Portion)	($771)	($1,463)	($1,165)	($2,057)
Operating expenses	'	'	'	'
Derivative Financial Instruments	'	'	'	'
Amount of Gain or (Loss) Reclassified from AOCI into Income (Effective Portion)	-427	-905	-670	-1,290
Derivatives designated as hedging instruments | Foreign currency exchange contracts	'	'	'	'
Derivative Financial Instruments	'	'	'	'
Amount of Gain or (Loss) Recognized in AOCI on Derivatives (Effective Portion)	1,072	-8,579	1,514	-16,965
Derivatives not Designated as Hedging Instrument | Foreign currency exchange contracts | Foreign currency transaction gains (losses)	'	'	'	'
Derivative Financial Instruments	'	'	'	'
Amount of Gain or (Loss) Recognized in Income on Derivatives	166	-1,845	-83	-3,454
Derivatives not Designated as Hedging Instrument | Foreign currency exchange contracts | Revenue	'	'	'	'
Derivative Financial Instruments	'	'	'	'
Amount of Gain or (Loss) Recognized in Income on Derivatives	284	-379	136	-480
Derivatives not Designated as Hedging Instrument | Foreign currency exchange contracts | Costs of revenue	'	'	'	'
Derivative Financial Instruments	'	'	'	'
Amount of Gain or (Loss) Recognized in Income on Derivatives	-129	130	-80	184
Derivatives not Designated as Hedging Instrument | Foreign currency exchange contracts | Selling, general and administrative expenses	'	'	'	'
Derivative Financial Instruments	'	'	'	'
Amount of Gain or (Loss) Recognized in Income on Derivatives	($23)	$17	($14)	$21

Acquisitions_Details

Acquisitions (Details) (USD $)	6 Months Ended	0 Months Ended	3 Months Ended	6 Months Ended		0 Months Ended	6 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Nov. 01, 2013	Mar. 31, 2014	Sep. 30, 2014	Nov. 01, 2013	Jan. 02, 2014	Sep. 30, 2014	Jan. 02, 2014	Jan. 02, 2013
		OSB	OSB	OSB	OSB	TradeTech Group	TradeTech Group	TradeTech Group	TradeTech Group
					Maximum	Virtusa BV	Virtusa BV	Deferred restricted stock awards	Maximum
									Virtusa BV
Acquisitions	'	'	'	'	'	'	'	'	'
Purchase price in cash	'	$6,840	'	'	'	$19,087	'	'	'
Holdback percentage	'	10.00%	'	'	'	12.50%	'	'	'
Holdback period	'	'12 months	'	'	'	'12 months	'	'	'
Additional earn-out consideration	'	'	'	'	6,000	'	'	'	4,080
Percentage of performance criteria met	'	'	100.00%	'	'	'	'	'	'
Consideration Transferred:	'	'	'	'	'	'	'	'	'
Payments for earn-out consideration	441	'	'	500	'	'	'	'	'
Increase (decrease) in contingent consideration (See Note 7)	-1,833	'	'	861	'	'	-1,833	'	'
Fair value of contingent consideration	'	'	'	4,403	'	'	0	'	'
Purchase Price Allocation	'	'	'	'	'	'	'	'	'
Authorized value of awards	'	'	'	'	'	'	'	$2,000	'
Number of authorized shares	'	'	'	'	'	'	'	65,000	'
Vesting period	'	'	'	'	'	'	'	'5 years	'

Goodwill_and_Intangible_Assets2

Goodwill and Intangible Assets (Detail) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Changes in goodwill	'
Balance at the beginning of the period	$53,448
Cumulative foreign currency translation adjustments	-1,318
Balance at the end of the period	52,130
Acquisition costs and goodwill deductible for tax purposes	41,834
TradeTech	'
Goodwill:	'
Acquisition costs and goodwill not deductible for tax purposes	$11,688

Goodwill_and_Intangible_Assets3

Goodwill and Intangible Assets (Details 2) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014
Intangible Assets	'	'
Weighted Average Useful Life	'9 years	'
Gross Carrying Amount	$37,538	'
Accumulated Amortization	12,320	'
Net Carrying Amount	25,218	28,661
Customer relationships	'	'
Intangible Assets	'	'
Weighted Average Useful Life	'9 years 4 months 24 days	'
Gross Carrying Amount	35,415	'
Accumulated Amortization	10,581	'
Net Carrying Amount	24,834	'
Partner relationships	'	'
Intangible Assets	'	'
Weighted Average Useful Life	'6 years 6 months	'
Gross Carrying Amount	700	'
Accumulated Amortization	544	'
Net Carrying Amount	156	'
Trademark	'	'
Intangible Assets	'	'
Weighted Average Useful Life	'1 year	'
Gross Carrying Amount	68	'
Accumulated Amortization	50	'
Net Carrying Amount	18	'
Backlog	'	'
Intangible Assets	'	'
Weighted Average Useful Life	'1 year	'
Gross Carrying Amount	1,355	'
Accumulated Amortization	1,145	'
Net Carrying Amount	$210	'

Income_Taxes_Details

Income Taxes (Details) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Mar. 31, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

India

India

India

India

India

India

India

India

Sri Lanka

Sri Lanka

subsidiary

Indian operations in areas designated as a SEZ

Virtusa India

Virtusa India

Virtusa India

Virtusa (Private) Limited

Virtusa (Private) Limited

subsidiary

item

Chennai

Hyderabad

item

item

Income Taxes

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Effective tax rate (as a percent)

25.10%

24.30%

25.70%

24.80%

'

'

'

'

'

'

'

'

'

'

'

Income Taxes

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Increase (decrease) in contingent consideration (See Note 7)

'

'

($1,833,000)

'

'

'

'

'

'

'

'

'

'

'

'

Number of subsidiaries which is export oriented

'

'

'

'

'

'

'

1

'

'

'

'

'

'

'

Income tax exemption period

'

'

'

'

'

'

'

'

'

'15 years

'10 years

'

'

'12 years

'12 years

Number of STPs operated

'

'

'

'

'

'

'

'

'

'

2

1

1

'

'

Statutory tax rate (as a percent)

'

'

'

'

'

34.00%

34.00%

34.00%

34.00%

'

'

'

'

'

'

Number of subsidiaries eligible for tax holiday on export income

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

Total liability for unrecognized tax benefits which would impact the annual effective rate, if realized

388,000

'

388,000

'

410,000

'

'

'

'

'

'

'

'

'

'

Decrease in unrecognized tax benefits

'

'

22,000

3,884,000

'

'

'

'

'

'

'

'

'

'

'

Unremitted earnings from foreign subsidiaries

175,900,000

'

175,900,000

'

'

'

'

'

'

'

'

'

'

'

'

Cash and short-term investments available for distribution if not indefinitely reinvested

$85,400,000

'

$85,400,000

'

'

'

'

'

'

'

'

'

'

'

'

Concentration_of_Revenue_and_A2

Concentration of Revenue and Assets (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Mar. 31, 2014
Concentration of Revenue and Assets	'	'	'	'	'
Consolidated revenue	$117,700	$94,301	$229,974	$184,790	'
Consolidated long-lived assets, net	112,668	'	112,668	'	117,455
North America	'	'	'	'	'
Concentration of Revenue and Assets	'	'	'	'	'
Consolidated revenue	75,985	67,740	149,448	135,006	'
Europe	'	'	'	'	'
Concentration of Revenue and Assets	'	'	'	'	'
Consolidated revenue	34,586	21,484	66,484	39,823	'
Consolidated long-lived assets, net	21,493	'	21,493	'	23,658
Other	'	'	'	'	'
Concentration of Revenue and Assets	'	'	'	'	'
Consolidated revenue	7,129	5,077	14,042	9,961	'
United States	'	'	'	'	'
Concentration of Revenue and Assets	'	'	'	'	'
Consolidated long-lived assets, net	60,205	'	60,205	'	61,562
Asia	'	'	'	'	'
Concentration of Revenue and Assets	'	'	'	'	'
Consolidated long-lived assets, net	$30,970	'	$30,970	'	$32,235

Concentration_of_Revenue_and_A3

Concentration of Revenue and Assets (Details 2) (Sales revenue, Customer 1)	3 Months Ended		6 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Sales revenue | Customer 1	'	'	'	'
Concentration of Revenue and Assets	'	'	'	'
Revenue from significant clients as a percentage of consolidated revenue	12.60%	12.60%	12.80%	11.90%

Debt_Details

Debt (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Debt	'	'
Receivables sold under the terms of the financing agreement	$11,271	'
Amounts due related to a financing agreement to sell certain accounts receivable balances	0	'
Prior secured revolving credit agreement	'	'
Debt	'	'
Maximum borrowing capacity under the credit agreement	'	3,000
Prior secured revolving credit agreement | Maximum	'	'
Debt	'	'
Debt to Adjusted EBITDA Ratio	2	'
Fixed Charge Coverage Ratio	2.5	'
Line of credit agreement	'	'
Debt	'	'
Maximum borrowing capacity under the credit agreement	'	25,000
Interest rate under credit facility (as a percent)	'	1.69%
Term of credit facility	'5 years	'
Amount outstanding under letters of credit	0	'
Line of credit agreement | LIBOR	'	'
Debt	'	'
Variable rate basis	'LIBOR	'
Line of credit agreement | LIBOR | Minimum	'	'
Debt	'	'
Interest rate added to the base rate (as a percent)	1.50%	'
Line of credit agreement | LIBOR | Maximum	'	'
Debt	'	'
Interest rate added to the base rate (as a percent)	1.75%	'
Prior amended and restated line of credit agreement	'	'
Debt	'	'
Maximum borrowing capacity under the credit agreement	'	$3,000

Pensions_and_postretirement_be2

Pensions and post-retirement benefits (Details) (Pension benefits, USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Pension benefits	'	'	'	'
Pensions and post-retirement benefits	'	'	'	'
Service cost	$135	$128	$271	$268
Interest cost	59	50	118	104
Expected return on plan assets	-54	-51	-108	-106
Amortization past service cost	2	2	5	5
Amortization of actuarial loss	24	22	48	45
Net periodic pension cost	166	151	334	316
Expected cash contributions to the plans in current fiscal period	'	'	508	'
Cash contributions to the plan for the current fiscal year	'	'	$333	'

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Details) (USD $)

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

In Thousands, unless otherwise specified

Investment securities.

Investment securities.

Investment securities.

Investment securities.

Investment securities.

Investment securities.

Investment securities.

Investment securities.

Currency Translation Adjustments

Currency Translation Adjustments

Currency Translation Adjustments

Currency Translation Adjustments

Cash Flow Hedges

Cash Flow Hedges

Cash Flow Hedges

Cash Flow Hedges

Cash Flow Hedges

Cash Flow Hedges

Cash Flow Hedges

Cash Flow Hedges

Benefit plans

Benefit plans

Benefit plans

Benefit plans

Benefit plans, prior service credit (cost)

Benefit plans, prior service credit (cost)

Benefit plans, prior service credit (cost)

Benefit plans, prior service credit (cost)

Benefit plans, net actuarial gain (loss)

Benefit plans, net actuarial gain (loss)

Benefit plans, net actuarial gain (loss)

Benefit plans, net actuarial gain (loss)

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Reclassification out of accumulated other comprehensive income

Changes in accumulated other comprehensive income (loss)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance at the beginning of the period

($30,721)

($27,714)

($38,788)

($4)

($21)

($54)

($3)

'

'

'

'

($23,454)

($25,163)

($23,253)

($16,918)

($3,168)

($5,923)

($3,829)

($1,013)

'

'

'

'

($591)

($704)

($578)

($780)

'

'

'

'

'

'

'

'

Other comprehensive income (loss) before reclassifications net of tax

'

'

'

-91

21

-41

-3

'

'

'

'

-5,249

-2,683

-5,450

-10,928

967

-5,932

1,153

-11,462

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other comprehensive income (loss) (OCI) before reclassifications, tax effect

'

'

'

0

0

0

0

'

'

'

'

'

'

'

'

105

-2,647

361

-5,503

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Reclassifications from OCI to:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other income, net of tax

'

'

'

'

'

'

6

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other income, tax effect

'

'

'

'

'

'

'

0

0

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Costs of revenue, net of tax

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

543

958

836

1,333

'

'

'

'

2

2

4

4

14

17

29

35

Costs of revenue, tax effect

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

228

505

329

724

'

'

'

'

0

0

0

0

0

0

0

0

Selling, general and administrative expenses, net of tax

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

300

592

482

837

'

'

'

'

0

1

1

2

10

5

19

10

Selling, general and administrative expenses, tax effect

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

127

313

188

454

'

'

'

'

0

0

0

0

0

0

0

0

Other adjustments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

42

-40

92

'

'

'

'

'

'

'

'

Comprehensive income (loss), net of tax

'

'

'

-91

21

-41

3

'

'

'

'

'

'

'

'

1,810

-4,382

2,471

-9,292

'

'

'

'

26

67

13

143

'

'

'

'

'

'

'

'

Comprehensive income (loss), tax effect

'

'

'

0

0

0

0

'

'

'

'

'

'

'

'

460

-1,829

878

-4,326

'

'

'

'

0

0

0

0

'

'

'

'

'

'

'

'

Balance at the end of the period

($30,721)

($27,714)

($38,788)

($95)

'

($95)

'

'

'

'

'

($28,703)

($27,846)

($28,703)

($27,846)

($1,358)

($10,305)

($1,358)

($10,305)

'

'

'

'

($565)

($637)

($565)

($637)

'

'

'

'

'

'

'

'

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent event, Derivatives designated as hedging instruments, Foreign currency forward contracts)	Oct. 16, 2014	Oct. 16, 2014	Oct. 16, 2014	Oct. 16, 2014
In Thousands, unless otherwise specified	U.S. Dollar and U.K. Pound Sterling Forward Contract	U.S. Dollar and U.K. Pound Sterling Forward Contract	U.S. dollar and Swedish Krona ("SEK") Forward Contract	U.S. dollar and Swedish Krona ("SEK") Forward Contract
	USD ($)	GBP (£)	USD ($)	SEK
Subsequent Events	'	'	'	'
Aggregate notional amount of foreign currency forward contracts	$11,729	£ 7,378	$847	6,007
Weighted average settlement rate	1.59	'	0.14	'