Virtusa (VRTU) 10-Q 5 Feb 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2014	Feb. 02, 2015
Document and Entity Information
Entity Registrant Name	VIRTUSA CORP
Entity Central Index Key	1207074
Document Type	10-Q
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-28
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		29,602,143
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$98,278	$82,761
Short-term investments	85,923	55,888
Accounts receivable, net of allowance of $1,006 and $1,130 at December 31, 2014 and March 31, 2014, respectively	73,582	64,662
Unbilled accounts receivable	25,175	26,548
Prepaid expenses	11,651	9,036
Deferred income taxes	6,026	6,610
Restricted cash	1,792	2,662
Other current assets	12,582	11,922
Total current assets	315,009	260,089
Property and equipment, net of depreciation of $35,015 and 30,625 at December 31, 2014 and March, 2014, respectively	35,888	35,346
Long-term investments	40,271	62,015
Deferred income taxes	4,272	4,651
Goodwill	51,331	53,448
Intangible assets, net	23,572	28,661
Other long-term assets	5,788	5,215
Total assets	476,131	449,425
Current liabilities:
Accounts payable	9,418	11,002
Accrued employee compensation and benefits	22,047	27,175
Accrued expenses and other current liabilities	27,784	27,299
Income taxes payable	2,478	1,294
Total current liabilities	61,727	66,770
Deferred income taxes	2,037	2,744
Long-term liabilities	5,125	5,841
Total liabilities	68,889	75,355
Commitments and guarantees
Stockholders' equity:
Undesignated preferred stock, $0.01 par value: Authorized 5,000,000 shares at December 31, 2014 and March 31, 2014; zero shares issued and outstanding at December 31, 2014 and March 31, 2014
Common stock, $0.01 par value: Authorized 120,000,000 shares at December 31, 2014 and March 31, 2014; issued 30,805,814 and 30,263,243 shares at December 31, 2014 and March 31, 2014, respectively; outstanding 28,949,111 and 28,406,540 shares at December 31, 2014 and March 31, 2014, respectively	308	303
Treasury stock, 1,856,703 common shares, at cost, at December 31, 2014 and March 31, 2014, respectively	-9,652	-9,652
Additional paid-in capital	279,723	269,511
Retained earnings	172,519	141,622
Accumulated other comprehensive loss	-35,656	-27,714
Total stockholders' equity	407,242	374,070
Total liabilities, undesignated preferred stock and stockholders' equity	$476,131	$449,425

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, except Share data, unless otherwise specified
Consolidated Balance Sheets
Accounts receivable, allowance (in dollars)	$1,006	$1,130
Property and equipment, accumulated depreciation (in dollars)	$35,015	$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	30,805,814	30,263,243
Common stock, outstanding shares	28,949,111	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		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Income
Revenue	$122,996	$101,043	$352,969	$285,833
Costs of revenue	77,144	63,821	224,701	182,126
Gross profit	45,852	37,222	128,268	103,707
Operating expenses:
Selling, general and administrative expenses	31,233	26,026	90,180	73,806
Income from operations	14,619	11,196	38,088	29,901
Other income (expense):
Interest income	1,410	1,021	3,799	2,623
Foreign currency transaction (losses) gains	-132	138	-200	-434
Other, net	82	-4	16	207
Total other income	1,360	1,155	3,615	2,396
Income before income tax expense	15,979	12,351	41,703	32,297
Income tax expense	4,200	3,023	10,806	7,969
Net income	$11,779	$9,328	$30,897	$24,328
Net income per share of common stock:
Basic (in dollars per share)	$0.41	$0.36	$1.08	$0.95
Diluted (in dollars per share)	$0.40	$0.35	$1.05	$0.92

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Comprehensive Income
Net income	$11,779	$9,328	$30,897	$24,328
Other comprehensive income (loss):
Foreign currency translation adjustments	-5,388	2,099	-10,838	-8,829
Pension plan adjustment	-172	13	-159	156
Unrealized gain (loss) on available-for-sale securities, net of tax	4	9	-37	12
Unrealized gain (loss) on effective cash flow hedges, net of tax	621	1,555	3,092	-7,737
Other comprehensive (loss) income	-4,935	3,676	-7,942	-16,398
Comprehensive income	$6,844	$13,004	$22,955	$7,930

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income	$30,897	$24,328
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	10,459	7,892
Share-based compensation expense	7,974	5,725
Reversal of contingent consideration	-1,833
Provision for doubtful accounts	-30	524
Loss on sale of property and equipment	40	10
Deferred income taxes	73
Foreign currency losses, net	200	434
Amortization of discounts and premiums on investments	962
Excess tax benefits from stock option exercises	-3,968	-2,974
Net change in operating assets and liabilities:
Accounts receivable and unbilled receivable	-10,655	6,205
Prepaid expenses and other current assets	109	-3,022
Other long-term assets	-705	-923
Accounts payable	-898	-1,171
Accrued employee compensation and benefits	-8,710	67
Accrued expenses and other current liabilities	5,840	-1,921
Income taxes payable	1,371	4,639
Other long-term liabilities	645	-286
Net cash provided by operating activities	31,771	39,527
Cash flows from investing activities:
Proceeds from sale of property and equipment	84	71
Purchase of short-term investments	-8,605	-12,302
Proceeds from sale or maturity of short-term investments	16,017	5,024
Purchase of long-term investments	-25,911	-7,074
Proceeds from sale or maturity of long-term investments	7,500	800
Decrease (increase) in restricted cash	669	-362
Business acquisition	-684	-6,156
Purchase of property and equipment	-9,146	-5,825
Net cash used in investing activities	-20,076	-25,824
Cash flows from financing activities:
Borrowings on revolving credit facility		20,000
Proceeds from exercise of common stock options	2,535	2,330
Payment of contingent consideration related to acquisitions	-441
Principal payments on capital lease obligation	-91	-12
Excess tax benefits from stock option exercises	3,968	2,974
Net cash provided by financing activities	5,971	25,292
Effect of exchange rate changes on cash and cash equivalents	-2,149	-2,788
Net increase in cash and cash equivalents	15,517	36,207
Cash and cash equivalents, beginning of period	82,761	57,199
Cash and cash equivalents, end of period	$98,278	$93,406

Nature_of_Business

Nature of Business	9 Months Ended
	Dec. 31, 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, Netherlands 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	9 Months Ended
	Dec. 31, 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 LLC, a limited liability company organized 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, TradeTech Consulting Scandinavia AB, organized and located in Sweden and Virtusa Canada, Inc., a corporation organized under the laws of British Columbia, Canada. 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 December 31, 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	9 Months Ended
	Dec. 31, 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, stock appreciation rights, 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				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Numerators:
	Net income	$	11,779	$	9,328	$	30,897	$	24,328
	Denominators:
	Weighted average common shares outstanding	28,871,023		25,652,538		28,681,156		25,499,625
	Dilutive effect of employee stock options and unvested restricted stock	748,620		874,810		781,270		819,364
	Dilutive effect of stock appreciation rights	7,978		13,334		8,663		14,731
	Weighted average shares-diluted	29,627,621		26,540,682		29,471,089		26,333,720
	Net income per share-basic	$	0.41	$	0.36	$	1.08	$	0.95
	Net income per share-diluted	$	0.40	$	0.35	$	1.05	$	0.92
	During the three and nine months ended December 31, 2014, options to purchase 19,847 and 22,564 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 nine months ended December 31, 2013, options to purchase 28,613 and 100,408 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	9 Months Ended
	Dec. 31, 2014
Investment Securities
Investment Securities
	(4) Investment Securities
	At December 31, 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 December 31, 2014:
		Amortized		Gross		Gross			Fair
		Cost		Unrealized		Unrealized			Value
				Gains		Losses
	Available-for-sale securities:
	Corporate bonds:
	Current	$	49,265	$	4	$	(52	)	$	49,217
	Non-current	26,978		2		(68		)	26,912
	Auction-rate securities:
	Non-current	—		—		—			—
	Agency and short-term notes:
	Current	1,013		1		—			1,014
	Non-current	13,370		—		(11		)	13,359
	Commercial paper:
	Current	—		—		—			—
	Municipal bonds:
	Current	200		—		—			200
	Time deposits:
	Current	35,492		—		—			35,492
	Total available-for-sale securities	$	126,318	$	7	$	(131	)	$	126,194
	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 December 31, 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	9 Months Ended
	Dec. 31, 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 December 31, 2014:
			Level 1			Level 2		Level 3		Total
	Assets:
	Investments:
	Available-for-sales securities—current		$	—		$	85,923	$	—	$	85,923
	Available-for-sales securities—non-current		—			40,271				40,271
	Foreign currency derivative contracts		—			2,184		—		2,184
	Total assets		$	—		$	128,378	$		$	128,378
	Liabilities:
	Foreign currency derivative contracts		$	—		$	3,576	$	—	$	3,576
	Contingent consideration		—			—		4,610		4,610
	Total liabilities		$	—		$	3,576	$	4,610	$	8,186
	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 December 31, 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)		1,068
	Cumulative foreign currency translation adjustments		(50		)
	Balance at December 31, 2014		$	4,610

Derivative_Financial_Instrumen

Derivative Financial Instruments	9 Months Ended
	Dec. 31, 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, Euro 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 three months and nine month periods ended December 31, 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 $113,947 and $102,801, at December 31, 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 $985 at December 31, 2014. At December 31, 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 December 31, 2014 and March 31, 2014:
	Derivatives designated as hedging instruments
		December 31, 2014			March 31, 2014
	Foreign currency exchange contracts:
	Other current assets	$	1,550		$	398
	Other long-term assets	$	634		$	586
	Accrued expenses and other current liabilities	$	2,535		$	3,925
	Long-term liabilities	$	1,041		$	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 nine months ended December 31, 2014 and 2013:
		Amount of Gain or (Loss) Recognized in AOCI on Derivative
		(Effective Portion)
	Derivatives Designated as Cash Flow	Three months ended December 31,						Nine months ended December 31,
	Hedging Relationships	2014			2013			2014			2013
	Foreign currency exchange contracts	$	553		$	1,167		$	2,067		$	(15,798	)
	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 December 31,						Nine months ended December 31,
	Portion)	2014			2013			2014			2013
	Costs of revenue	$	(61	)	$	(780	)	$	(1,227	)	$	(2,839	)
	Operating expenses	$	(34	)	$	(471	)	$	(704	)	$	(1,760	)
				Amount of Gain or (Loss) Recognized in Income on Derivatives
				Three months ended						Nine months ended
	Derivatives not Designated	Location of Gain or (Loss)		December 31,						December 31,
	as Hedging Instrument	Recognized in Income on Derivatives		2014			2013			2014			2013
	Foreign currency exchange contracts	Foreign currency transaction gains (losses)		$	(216	)	$	420		$	(299	)	$	(3,034	)
		Revenue		$	183		$	(74	)	$	319		$	(555	)
		Costs of revenue		$	(106	)	$	30		$	(187	)	$	214
		Selling, general and administrative expenses		$	(38	)	$	3		$	(51	)	$	23

Acquisitions

Acquisitions	9 Months Ended
	Dec. 31, 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 ended 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. The fair value of the contingent consideration at December 31, 2014 and March 31, 2014 was $4,610 and $4,042, respectively. During the nine months ended December 31, 2014, the Company paid the $500 earn-out consideration to OSB. The change in fair value of $1,068 was recorded as a change to selling, general and administration expenses in the nine months ended December 31, 2014. In November 2014, the Company released $684 to OSB with respect to the hold back.
	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 Nordic countries.
	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 of $1,833 in the fair value of the recorded earn-out liability for the nine months ended December 31, 2014.  At December 31, 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 nine-month period ended December 31, 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	9 Months Ended
	Dec. 31, 2014
Goodwill and Intangible Assets
Goodwill and Intangible Assets
	(8) Goodwill and Intangible Assets
	Goodwill:
	The Company has one reportable segment at December 31, 2014. The following are details of the changes in goodwill balance at December 31, 2014:
		Amount
	Balance at April 1, 2014	$	53,448
	Cumulative foreign currency translation adjustments	(2,117		)
	Balance at December 31, 2014	$	51,331
	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 $10,888 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 December 31, 2014.
		Weighted Average		Gross Carrying		Accumulated		Net Carrying
		Useful Life		Amount		Amortization		Amount
	Amortizable intangible assets:
	Customer relationships	9.4		$	34,814	$	11,369	$	23,445
	Partner relationships	6.5		700		573		127
	Trademark	1.0		63		63		—
	Backlog	1.0		1,259		1,259		—
		9.0		$	36,836	$	13,264	$	23,572

Income_Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2014
Income Taxes
Income Taxes
	(9) Income Taxes
	The Company’s effective tax rate was 26.3% and 25.9% for the three and nine months ended December 31, 2014, as compared to an effective tax rate of 24.5% and 24.7% for the three and nine months ended December 31, 2013. The increase in the effective tax rate for three months ended December 31, 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 nine months ended December 31, 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 nine months period ended December 31, 2014 related to the determination that Trade Tech would not achieve its performance targets for earn-out consideration and new tax benefits generated from SEZ tax holiday incentives located in Bangalore and Pune, India.
	One of the Company’s Indian subsidiaries, Virtusa (India) Private Limited, which was merged with and into 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 nine months ended December 31, 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. The Company is required each year to apply for certification during the 12 year holiday period. 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. During the three months ended December 31, 2014, the Company submitted and received confirmation of exemption for the fiscal year ended March 31, 2014. At December 31, 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 December 31, 2014 and March 31, 2014, the total liability for unrecognized tax benefits was $406 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 nine months ended December 31, 2014 and December 31, 2013, the unrecognized tax benefits decreased by $4 and $3,873, respectively. The decrease in unrecognized tax benefits in the nine months period ending December 31, 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 has fully accrued for all such assessments and the settlement impact on the Company’s financial statements is properly reflected at December 31, 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 December 31, 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 December 31, 2014, the Company had $184,273 of unremitted earnings from foreign subsidiaries and approximately $94,144 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	9 Months Ended
	Dec. 31, 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						Nine Months Ended
		December 31,						December 31,
		2014			2013			2014		2013
	Client revenue:
	North America	$	83,324		$	70,510		$	232,773	$	205,547
	Europe	31,658			24,895			98,141		64,686
	Rest of world	8,014			5,638			22,055		15,600
	Consolidated revenue	$	122,996		$	101,043		$	352,969	$	285,833
		December 31,			March 31,
		2014			2014
	Long-lived assets, net of accumulated depreciation and amortization:
	United States	$	59,916		$	61,562
	Asia	31,043			32,235
	Europe	19,832			23,658
	Consolidated long-lived assets, net	$	110,791		$	117,455
	Revenue from significant clients as a percentage of the Company’s consolidated revenue was as follows:
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Customer 1	11.9	%	13.3	%	12.5	%	12.4	%
	Customer 2	11.1	%	13.1	%	10.0	%	13.4	%

Debt

Debt	9 Months Ended
	Dec. 31, 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. 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 December 31, 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 nine months ended December 31, 2014, $22,744 of receivables was sold under the terms of the financing agreement. Fees paid pursuant to this agreement were immaterial during the three and nine months ended December 31, 2014. No amounts were outstanding under the financing agreement at December 31, 2014.

Pensions_and_Postretirement_be

Pensions and Post-retirement benefits	9 Months Ended
	Dec. 31, 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						Nine Months Ended
		December 31,						December 31,
		2014			2013			2014			2013
	Components of net periodic pension cost
	Service cost	$	154		$	129		$	425		$	397
	Interest cost	58			56			175			160
	Expected return on plan assets	(53		)	(58		)	(162		)	(164		)
	Amortization past service cost	2			2			7			8
	Amortization of actuarial loss	38			22			87			68
	Net periodic pension cost	$	199		$	151		532			$	469
	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 $332 to the plans during the nine months ended December 31, 2014.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	9 Months Ended
	Dec. 31, 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 nine months ended December 31, 2014 and 2013:
	Accumulated Other Comprehensive Income (Loss)	Three Months Ended						Nine Months Ended
		December 31,						December 31,
	(In thousands, except per share amounts)	2014			2013			2014			2013
	Investment securities
	Beginning balance	$	(95	)	$	—		$	(54	)	$	(3	)
	Other comprehensive income (loss) (OCI) before reclassifications net of tax of $0 for all periods	5			9			(36		)	12
	Reclassifications from OCI to other income — net of tax of $0 for all periods	(1		)	—			(1		)	—
	Comprehensive income (loss) on investment securities, net of tax of $0 for all periods	4			9			(37		)	12
	Closing Balance	$	(91	)	$	9		$	(91	)	$	9
	Currency Translation Adjustments
	Beginning balance	$	(28,703	)	$	(27,846	)	$	(23,253	)	$	(16,918	)
	OCI before reclassifications	(5,388		)	2,099			(10,838		)	(8,829		)
	Closing Balance	$	(34,091	)	$	(25,747	)	$	(34,091	)	$	(25,747	)
	Cash Flow Hedges
	Beginning balance	$	(1,358	)	$	(10,305	)	$	(3,829	)	$	(1,013	)
	OCI before reclassifications net of tax of $21, $(488), $(340) and $5,046	573			680			1,727			(10,751		)
	Reclassifications from OCI to
	- Costs of revenue, net of tax of $(31), $(223), $(360) and $(978)	30			557			867			1,860
	- Selling, general and administrative expenses, net of tax of $(16), $(153), $(206) and $(607)	18			318			498			1,154
	Comprehensive income (loss) on cash flow hedges, net of tax of $(26), $(864), $(906) and $3,461	621			1,555			3,092			(7,737		)
	Closing Balance	$	(737	)	$	(8,750	)	$	(737	)	$	(8,750	)
	Benefit plans
	Beginning balance	$	(565	)	$	(637	)	$	(578	)	$	(780	)
	OCI before reclassifications net of tax of $0 for all periods	(216		)	—			(216		)	—
	Reclassifications from OCI for prior service credit (cost) to:
	- Costs of revenue, net of tax of $0 for all periods	2			2			6			6
	- 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	23			18			52			53
	- Selling, general and administrative expenses, net of tax of $0 for all periods	15			5			35			16
	Other adjustments	3			(12		)	(37		)	79
	Comprehensive income (loss) on benefit plans, net of tax of $0 for all periods	(172		)	13			(159		)	156
	Closing Balance	$	(737	)	(624		)	(737		)	(624		)
	Accumulated other comprehensive loss closing balance	$	(35,656	)	$	(35,112	)	$	(35,656	)	$	(35,112	)

Subsequent_Events

Subsequent Events	9 Months Ended
	Dec. 31, 2014
Subsequent Events
Subsequent Events
	(14) Subsequent Events
	On January 8, 2015, the Company purchased multiple foreign currency forward contracts designed to hedge fluctuation in the U.K. pound sterling against the U.S. dollar (the “U.K. contracts”), the Swedish krona (“SEK”) against the U.S. dollar (the “SEK contracts”) and the Euro (“EUR”) against the U.S. dollar (the “Euro contracts”), each of which will expire on various dates during the period ending March 31, 2015. The U.K. contracts have an aggregate notional amount of approximately £6,982 (approximately $10,493), the SEK contracts have an aggregate notional amount of approximately SEK 7,301 (approximately $914) and the EUR contracts have an aggregate notional amount of approximately EUR 376 (approximately $441). The weighted average U.K. pound sterling settlement rate associated with the U.K. contracts is approximately $1.50, the weighted average U.S. dollar settlement rate associated with the SEK contracts is approximately $0.13, and the weighted average U.S. dollar settlement rate associated with the EUR contracts is approximately $1.17.

Unaudited_Interim_Financial_In1

Unaudited Interim Financial Information (Policies)	9 Months Ended
	Dec. 31, 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 LLC, a limited liability company organized 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, TradeTech Consulting Scandinavia AB, organized and located in Sweden and Virtusa Canada, Inc., a corporation organized under the laws of British Columbia, Canada. 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 December 31, 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)	9 Months Ended
	Dec. 31, 2014
Net Income per Share
Schedule of computation of basic and diluted net income per share		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Numerators:
	Net income	$	11,779	$	9,328	$	30,897	$	24,328
	Denominators:
	Weighted average common shares outstanding	28,871,023		25,652,538		28,681,156		25,499,625
	Dilutive effect of employee stock options and unvested restricted stock	748,620		874,810		781,270		819,364
	Dilutive effect of stock appreciation rights	7,978		13,334		8,663		14,731
	Weighted average shares-diluted	29,627,621		26,540,682		29,471,089		26,333,720
	Net income per share-basic	$	0.41	$	0.36	$	1.08	$	0.95
	Net income per share-diluted	$	0.40	$	0.35	$	1.05	$	0.92

Investment_Securities_Tables

Investment Securities (Tables)	9 Months Ended
	Dec. 31, 2014
Investment Securities
Schedule of investment securities	The following is a summary of investment securities at December 31, 2014:
		Amortized		Gross		Gross			Fair
		Cost		Unrealized		Unrealized			Value
				Gains		Losses
	Available-for-sale securities:
	Corporate bonds:
	Current	$	49,265	$	4	$	(52	)	$	49,217
	Non-current	26,978		2		(68		)	26,912
	Auction-rate securities:
	Non-current	—		—		—			—
	Agency and short-term notes:
	Current	1,013		1		—			1,014
	Non-current	13,370		—		(11		)	13,359
	Commercial paper:
	Current	—		—		—			—
	Municipal bonds:
	Current	200		—		—			200
	Time deposits:
	Current	35,492		—		—			35,492
	Total available-for-sale securities	$	126,318	$	7	$	(131	)	$	126,194
	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)	9 Months Ended
	Dec. 31, 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 December 31, 2014:
		Level 1			Level 2		Level 3		Total
	Assets:
	Investments:
	Available-for-sales securities—current	$	—		$	85,923	$	—	$	85,923
	Available-for-sales securities—non-current	—			40,271				40,271
	Foreign currency derivative contracts	—			2,184		—		2,184
	Total assets	$	—		$	128,378	$		$	128,378
	Liabilities:
	Foreign currency derivative contracts	$	—		$	3,576	$	—	$	3,576
	Contingent consideration	—			—		4,610		4,610
	Total liabilities	$	—		$	3,576	$	4,610	$	8,186
Schedule of changes in fair value of the Company's Level 3 financial liabilities		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)	1,068
	Cumulative foreign currency translation adjustments	(50		)
	Balance at December 31, 2014	$	4,610

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	9 Months Ended
	Dec. 31, 2014
Derivative Financial Instruments
Schedule of fair value of derivative instruments included in the consolidated balance sheets		December 31, 2014			March 31, 2014
	Foreign currency exchange contracts:
	Other current assets	$	1,550		$	398
	Other long-term assets	$	634		$	586
	Accrued expenses and other current liabilities	$	2,535		$	3,925
	Long-term liabilities	$	1,041		$	2,449
Schedule of effect of the foreign currency exchange contracts on the consolidated financial statements		Amount of Gain or (Loss) Recognized in AOCI on Derivative
		(Effective Portion)
	Derivatives Designated as Cash Flow	Three months ended December 31,						Nine months ended December 31,
	Hedging Relationships	2014			2013			2014			2013
	Foreign currency exchange contracts	$	553		$	1,167		$	2,067		$	(15,798	)
	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 December 31,						Nine months ended December 31,
	Portion)	2014			2013			2014			2013
	Costs of revenue	$	(61	)	$	(780	)	$	(1,227	)	$	(2,839	)
	Operating expenses	$	(34	)	$	(471	)	$	(704	)	$	(1,760	)
				Amount of Gain or (Loss) Recognized in Income on Derivatives
				Three months ended						Nine months ended
	Derivatives not Designated	Location of Gain or (Loss)		December 31,						December 31,
	as Hedging Instrument	Recognized in Income on Derivatives		2014			2013			2014			2013
	Foreign currency exchange contracts	Foreign currency transaction gains (losses)		$	(216	)	$	420		$	(299	)	$	(3,034	)
		Revenue		$	183		$	(74	)	$	319		$	(555	)
		Costs of revenue		$	(106	)	$	30		$	(187	)	$	214
		Selling, general and administrative expenses		$	(38	)	$	3		$	(51	)	$	23

Goodwill_and_Intangible_Assets1

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Dec. 31, 2014
Goodwill and Intangible Assets
Schedule of changes in goodwill		Amount
	Balance at April 1, 2014	$	53,448
	Cumulative foreign currency translation adjustments	(2,117		)
	Balance at December 31, 2014	$	51,331
Schedule of carrying amount and amortization of acquired intangible asset
	The following are details of the Company’s intangible asset carrying amounts acquired and amortization at December 31, 2014.
		Weighted Average		Gross Carrying		Accumulated		Net Carrying
		Useful Life		Amount		Amortization		Amount
	Amortizable intangible assets:
	Customer relationships	9.4		$	34,814	$	11,369	$	23,445
	Partner relationships	6.5		700		573		127
	Trademark	1.0		63		63		—
	Backlog	1.0		1,259		1,259		—
		9.0		$	36,836	$	13,264	$	23,572

Concentration_of_Revenue_and_A1

Concentration of Revenue and Assets (Tables)	9 Months Ended
	Dec. 31, 2014
Concentration of Revenue and Assets
Schedule of revenue attributed to geographic areas based on location of the client		Three Months Ended						Nine Months Ended
		December 31,						December 31,
		2014			2013			2014		2013
	Client revenue:
	North America	$	83,324		$	70,510		$	232,773	$	205,547
	Europe	31,658			24,895			98,141		64,686
	Rest of world	8,014			5,638			22,055		15,600
	Consolidated revenue	$	122,996		$	101,043		$	352,969	$	285,833
Schedule of long-lived assets, net of accumulated depreciation and amortization attributed to geographic areas based on location of assets		December 31,			March 31,
		2014			2014
	Long-lived assets, net of accumulated depreciation and amortization:
	United States	$	59,916		$	61,562
	Asia	31,043			32,235
	Europe	19,832			23,658
	Consolidated long-lived assets, net	$	110,791		$	117,455
Schedule of revenue from significant clients as a percentage of consolidated revenue		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Customer 1	11.9	%	13.3	%	12.5	%	12.4	%
	Customer 2	11.1	%	13.1	%	10.0	%	13.4	%

Pensions_and_Postretirement_be1

Pensions and Post-retirement benefits (Tables)	9 Months Ended
	Dec. 31, 2014
Pensions and post-retirement benefits
Schedule of pension expense recognized		Three Months Ended						Nine Months Ended
		December 31,						December 31,
		2014			2013			2014			2013
	Components of net periodic pension cost
	Service cost	$	154		$	129		$	425		$	397
	Interest cost	58			56			175			160
	Expected return on plan assets	(53		)	(58		)	(162		)	(164		)
	Amortization past service cost	2			2			7			8
	Amortization of actuarial loss	38			22			87			68
	Net periodic pension cost	$	199		$	151		532			$	469

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Dec. 31, 2014
Accumulated Other Comprehensive Loss
Schedule of changes in accumulated other comprehensive income (loss) by component	Accumulated Other Comprehensive Income (Loss)	Three Months Ended						Nine Months Ended
		December 31,						December 31,
	(In thousands, except per share amounts)	2014			2013			2014			2013
	Investment securities
	Beginning balance	$	(95	)	$	—		$	(54	)	$	(3	)
	Other comprehensive income (loss) (OCI) before reclassifications net of tax of $0 for all periods	5			9			(36		)	12
	Reclassifications from OCI to other income — net of tax of $0 for all periods	(1		)	—			(1		)	—
	Comprehensive income (loss) on investment securities, net of tax of $0 for all periods	4			9			(37		)	12
	Closing Balance	$	(91	)	$	9		$	(91	)	$	9
	Currency Translation Adjustments
	Beginning balance	$	(28,703	)	$	(27,846	)	$	(23,253	)	$	(16,918	)
	OCI before reclassifications	(5,388		)	2,099			(10,838		)	(8,829		)
	Closing Balance	$	(34,091	)	$	(25,747	)	$	(34,091	)	$	(25,747	)
	Cash Flow Hedges
	Beginning balance	$	(1,358	)	$	(10,305	)	$	(3,829	)	$	(1,013	)
	OCI before reclassifications net of tax of $21, $(488), $(340) and $5,046	573			680			1,727			(10,751		)
	Reclassifications from OCI to
	- Costs of revenue, net of tax of $(31), $(223), $(360) and $(978)	30			557			867			1,860
	- Selling, general and administrative expenses, net of tax of $(16), $(153), $(206) and $(607)	18			318			498			1,154
	Comprehensive income (loss) on cash flow hedges, net of tax of $(26), $(864), $(906) and $3,461	621			1,555			3,092			(7,737		)
	Closing Balance	$	(737	)	$	(8,750	)	$	(737	)	$	(8,750	)
	Benefit plans
	Beginning balance	$	(565	)	$	(637	)	$	(578	)	$	(780	)
	OCI before reclassifications net of tax of $0 for all periods	(216		)	—			(216		)	—
	Reclassifications from OCI for prior service credit (cost) to:
	- Costs of revenue, net of tax of $0 for all periods	2			2			6			6
	- 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	23			18			52			53
	- Selling, general and administrative expenses, net of tax of $0 for all periods	15			5			35			16
	Other adjustments	3			(12		)	(37		)	79
	Comprehensive income (loss) on benefit plans, net of tax of $0 for all periods	(172		)	13			(159		)	156
	Closing Balance	$	(737	)	(624		)	(737		)	(624		)
	Accumulated other comprehensive loss closing balance	$	(35,656	)	$	(35,112	)	$	(35,656	)	$	(35,112	)

Net_Income_per_Share_Details

Net Income per Share (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Numerators:
Net income	$11,779	$9,328	$30,897	$24,328
Denominators:
Weighted average common shares outstanding	28,871,023	25,652,538	28,681,156	25,499,625
Dilutive effect of employee stock options and unvested restricted stock (in shares)	748,620	874,810	781,270	819,364
Dilutive effect of stock appreciation rights (in shares)	7,978	13,334	8,663	14,731
Weighted average shares-diluted	29,627,621	26,540,682	29,471,089	26,333,720
Net income per share-basic (in dollars per share)	$0.41	$0.36	$1.08	$0.95
Net income per share-diluted (in dollars per share)	$0.40	$0.35	$1.05	$0.92
Options excluded from the calculations of diluted earnings per share (in shares)	19,847	28,613	22,564	100,408

Investment_Securities_Details

Investment Securities (Details) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Investment Securities
Amortized Cost	$126,318	$117,992
Gross Unrealized Gains	7	15
Gross Unrealized Losses	-131	-104
Fair Value	126,194	117,903
Corporate bonds | Current
Investment Securities
Amortized Cost	49,265	20,255
Gross Unrealized Gains	4	9
Gross Unrealized Losses	-52	-8
Fair Value	49,217	20,256
Corporate bonds | Non-current
Investment Securities
Amortized Cost	26,978	50,264
Gross Unrealized Gains	2	5
Gross Unrealized Losses	-68	-70
Fair Value	26,912	50,199
Auction-rate securities | Non-current
Investment Securities
Amortized Cost		300
Gross Unrealized Losses		-12
Fair Value		288
Agency and short-term notes | Current
Investment Securities
Amortized Cost	1,013	561
Gross Unrealized Gains	1
Fair Value	1,014	561
Agency and short-term notes | Non-current
Investment Securities
Amortized Cost	13,370	11,341
Gross Unrealized Gains		1
Gross Unrealized Losses	-11	-14
Fair Value	13,359	11,328
Commercial paper | Current
Investment Securities
Amortized Cost		5,497
Fair Value		5,497
Municipal bonds | Current
Investment Securities
Amortized Cost	200
Fair Value	200
Municipal bonds | Non-current
Investment Securities
Amortized Cost		200
Fair Value		200
Time deposits | Current
Investment Securities
Amortized Cost	35,492	29,574
Fair Value	$35,492	$29,574

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Level 3
Liabilities:
Total liabilities	$4,610	$5,925
Recurring | Level 2
Investments:
Available-for-sale securities - current	85,923
Available-for-sale securities - non-current	40,271
Foreign currency derivative contracts	2,184
Total assets	128,378
Liabilities:
Foreign currency derivative contracts	3,576
Total liabilities	3,576
Recurring | Level 3
Liabilities:
Contingent consideration	4,610
Total liabilities	4,610
Recurring | Total
Investments:
Available-for-sale securities - current	85,923
Available-for-sale securities - non-current	40,271
Foreign currency derivative contracts	2,184
Total assets	128,378
Liabilities:
Foreign currency derivative contracts	3,576
Contingent consideration	4,610
Total liabilities	$8,186

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Details 2) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Changes in fair value of the Company's Level 3 financial liabilities
Increase (decrease) in contingent consideration (See Note 7)			($1,833)
Cumulative foreign currency translation adjustments	-5,388	2,099	-10,838	-8,829
OSB
Changes in fair value of the Company's Level 3 financial liabilities
Increase (decrease) in contingent consideration (See Note 7)			1,068
Level 3
Changes in fair value of the Company's Level 3 financial liabilities
Balance at start of period			5,925
Cumulative foreign currency translation adjustments			-50
Balance at end of period	4,610		4,610
Level 3 | OSB
Changes in fair value of the Company's Level 3 financial liabilities
Payment of OSB contingent consideration (See Note 7)			-500
Increase (decrease) in contingent consideration (See Note 7)			1,068
Level 3 | TradeTech
Changes in fair value of the Company's Level 3 financial liabilities
Increase (decrease) in contingent consideration (See Note 7)			($1,833)

Derivative_Financial_Instrumen2

Derivative Financial Instruments (Details) (Foreign currency exchange contracts, USD $)	9 Months Ended	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2013	Mar. 31, 2014
	item
Derivative Financial Instruments and Trading Activities
Number of hedging programs maintained	3
U.S. dollar notional equivalent market value	$113,947	$113,947			$102,801
Maximum outstanding term of derivative instruments	33 months
Derivatives designated as hedging instruments
Derivative Financial Instruments and Trading Activities
Period hedged by Cash Flow Program	36 months
Additional period after which the contract is deemed ineffective	2 months
Unrealized net losses related to derivative instruments expected to be reclassified from AOCI into earnings during the next 12 months	985
Other current assets	1,550	1,550			398
Other long-term assets	634	634			586
Accrued expenses and other current liabilities	2,535	2,535			3,925
Long-term liabilities	1,041	1,041			2,449
Derivatives designated as hedging instruments | Cash Flow Hedges | Reclassification out of accumulated other comprehensive income
Derivative Financial Instruments and Trading Activities
Amount reclassified to earnings as a result of hedge ineffectiveness	$0	$0	$0	$0
Derivatives not Designated as Hedging Instrument
Derivative Financial Instruments and Trading Activities
Maturity period of Balance Sheet Program derivatives	30 months
Maximum outstanding term of derivative instruments	92 days

Derivative_Financial_Instrumen3

Derivative Financial Instruments (Details 2) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Costs of revenue
Derivative Financial Instruments
Amount of Gain or (Loss) Reclassified from AOCI into Income (Effective Portion)	($61)	($780)	($1,227)	($2,839)
Operating expenses
Derivative Financial Instruments
Amount of Gain or (Loss) Reclassified from AOCI into Income (Effective Portion)	-34	-471	-704	-1,760
Derivatives designated as hedging instruments | Foreign currency exchange contracts
Derivative Financial Instruments
Amount of Gain or (Loss) Recognized in AOCI on Derivatives (Effective Portion)	553	1,167	2,067	-15,798
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	-216	-420	-299	-3,034
Derivatives not Designated as Hedging Instrument | Foreign currency exchange contracts | Revenue
Derivative Financial Instruments
Amount of Gain or (Loss) Recognized in Income on Derivatives	183	-74	319	-555
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	-106	30	-187	214
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	($38)	$3	($51)	$23

Acquisitions_Details

Acquisitions (Details) (USD $)	9 Months Ended		0 Months Ended	1 Months Ended	5 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Nov. 01, 2013	Nov. 30, 2014	Mar. 31, 2014	Jan. 02, 2014	Jan. 02, 2013
Consideration Transferred:
Payments for earn-out consideration	$441
Increase (decrease) in contingent consideration (See Note 7)	-1,833
Payment of hold back	684	6,156
OSB
Acquisitions
Purchase price in cash			6,840
Hold back percentage			10.00%
Hold back period			12 months
Percentage of the performance targets met					100.00%
Consideration Transferred:
Payments for earn-out consideration	500
Increase (decrease) in contingent consideration (See Note 7)	1,068
Fair value of contingent consideration	4,610				4,042
Payment of hold back				684
OSB | Maximum
Acquisitions
Additional earn-out consideration			6,000
Trade Tech Consulting Scandinavia A B | Virtusa BV
Acquisitions
Purchase price in cash						19,087
Hold back percentage						12.50%
Hold back period						12 months
Consideration Transferred:
Increase (decrease) in contingent consideration (See Note 7)	-1,833
Fair value of contingent consideration	0
Trade Tech Consulting Scandinavia A B | Deferred restricted stock awards
Purchase Price Allocation
Authorized value of awards						2,000
Number of authorized shares						65,000
Vesting period						5 years
Trade Tech Consulting Scandinavia A B | Maximum | Virtusa BV
Acquisitions
Additional earn-out consideration							$4,080

Goodwill_and_Intangible_Assets2

Goodwill and Intangible Assets (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Changes in goodwill
Balance at the beginning of the period	$53,448
Cumulative foreign currency translation adjustments	-2,117
Balance at the end of the period	51,331
Acquisition costs and goodwill deductible for tax purposes	41,834
Trade Tech Consulting Scandinavia A B
Changes in goodwill
Acquisition costs and goodwill not deductible for tax purposes	$10,888

Goodwill_and_Intangible_Assets3

Goodwill and Intangible Assets (Details 2) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Mar. 31, 2014
Intangible Assets
Weighted Average Useful Life	9 years
Gross Carrying Amount	$36,836
Accumulated Amortization	13,264
Net Carrying Amount	23,572	28,661
Customer relationships
Intangible Assets
Weighted Average Useful Life	9 years 4 months 24 days
Gross Carrying Amount	34,814
Accumulated Amortization	11,369
Net Carrying Amount	23,445
Partner relationships
Intangible Assets
Weighted Average Useful Life	6 years 6 months
Gross Carrying Amount	700
Accumulated Amortization	573
Net Carrying Amount	127
Trademark
Intangible Assets
Weighted Average Useful Life	1 year
Gross Carrying Amount	63
Accumulated Amortization	63
Backlog
Intangible Assets
Weighted Average Useful Life	1 year
Gross Carrying Amount	1,259
Accumulated Amortization	$1,259

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended		9 Months Ended		3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
Income Taxes
Effective tax rate (as a percent)	26.30%	24.50%	25.90%	24.70%
Decrease in contingent consideration			$1,833
Total liability for unrecognized tax benefits which would impact the annual effective rate, if realized	406		406		410
Decrease in unrecognized tax benefits			4	3,873
Unremitted earnings from foreign subsidiaries	184,273		184,273
Cash and short-term investments available for distribution if not indefinitely reinvested	$94,144		$94,144
India
Income Taxes
Number of subsidiaries which is export oriented			1
Statutory tax rate (as a percent)	34.00%	34.00%	34.00%	34.00%
India | Indian operations in areas designated as a SEZ
Income Taxes
Income tax exemption period			15 years
Number of subsidiaries eligible for tax holiday on export income			2
India | Virtusa India
Income Taxes
Income tax exemption period			10 years
Number of STPs operated			2
India | Virtusa India | Chennai
Income Taxes
Number of STPs operated			1
India | Virtusa India | Hyderabad
Income Taxes
Number of STPs operated			1
Sri Lanka | Virtusa (Private) Limited
Income Taxes
Income tax exemption period			12 years		12 years

Concentration_of_Revenue_and_A2

Concentration of Revenue and Assets (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
Concentration of Revenue and Assets
Consolidated revenue	$122,996	$101,043	$352,969	$285,833
Consolidated long-lived assets, net	110,791		110,791		117,455
North America
Concentration of Revenue and Assets
Consolidated revenue	83,324	70,510	232,773	205,547
Europe
Concentration of Revenue and Assets
Consolidated revenue	31,658	24,895	98,141	64,686
Consolidated long-lived assets, net	19,832		19,832		23,658
Rest of world
Concentration of Revenue and Assets
Consolidated revenue	8,014	5,638	22,055	15,600
United States
Concentration of Revenue and Assets
Consolidated long-lived assets, net	59,916		59,916		61,562
Asia
Concentration of Revenue and Assets
Consolidated long-lived assets, net	$31,043		$31,043		$32,235

Concentration_of_Revenue_and_A3

Concentration of Revenue and Assets (Details 2) (Sales revenue)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Customer 1
Concentration of Revenue and Assets
Revenue from significant clients as a percentage of consolidated revenue	11.90%	13.30%	12.50%	12.40%
Customer 2
Concentration of Revenue and Assets
Revenue from significant clients as a percentage of consolidated revenue	11.10%	13.10%	10.00%	13.40%

Debt_Details

Debt (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Debt
Receivables sold under the terms of the financing agreement	$22,744
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
Term of credit facility	5 years
Amount outstanding under the credit facility	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

Recovered_Sheet1

Pensions and Post-retirement Benefits (Details) (Pension benefits, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Pension benefits
Pensions and post-retirement benefits
Service cost	$154	$129	$425	$397
Interest cost	58	56	175	160
Expected return on plan assets	-53	-58	-162	-164
Amortization past service cost	2	2	7	8
Amortization of actuarial loss	38	22	87	68
Net periodic pension cost	199	151	532	469
Expected cash contributions to the plans in current fiscal period			508
Cash contributions to the plan for the current fiscal year			$332

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
Changes in accumulated other comprehensive income (loss)
Balance at the beginning of the period					($27,714)
Reclassifications from OCI to:
Balance at the end of the period	-35,656	-35,112	-35,656	-35,112	-27,714
Investment securities.
Changes in accumulated other comprehensive income (loss)
Balance at the beginning of the period	-95		-54	-3
Other comprehensive income (loss) before reclassifications net of tax	5	9	-36	12
Other comprehensive income (loss) (OCI) before reclassifications, tax effect	0	0	0	0
Reclassifications from OCI to:
Other income, net of tax	-1		-1
Comprehensive income (loss), net of tax	4	9	-37	12
Comprehensive income (loss), tax effect	0	0	0	0
Balance at the end of the period	-91	9	-91	9
Investment securities. | Reclassification out of accumulated other comprehensive income
Reclassifications from OCI to:
Other income, tax effect	0	0	0	0
Currency Translation Adjustments
Changes in accumulated other comprehensive income (loss)
Balance at the beginning of the period	-28,703	-27,846	-23,253	-16,918
Other comprehensive income (loss) before reclassifications net of tax	-5,388	2,099	-10,838	-8,829
Reclassifications from OCI to:
Balance at the end of the period	-34,091	-25,747	-34,091	-25,747
Cash Flow Hedges
Changes in accumulated other comprehensive income (loss)
Balance at the beginning of the period	-1,358	-10,305	-3,829	-1,013
Other comprehensive income (loss) before reclassifications net of tax	573	680	1,727	-10,751
Other comprehensive income (loss) (OCI) before reclassifications, tax effect	21	-488	-340	5,046
Reclassifications from OCI to:
Comprehensive income (loss), net of tax	621	1,555	3,092	-7,737
Comprehensive income (loss), tax effect	-26	-864	-906	3,461
Balance at the end of the period	-737	-8,750	-737	-8,750
Cash Flow Hedges | Reclassification out of accumulated other comprehensive income
Reclassifications from OCI to:
Costs of revenue, net of tax	30	557	867	1,860
Costs of revenue, tax effect	-31	-223	-360	-978
Selling, general and administrative expenses, net of tax	18	318	498	1,154
Selling, general and administrative expenses, tax effect	-16	-153	-206	-607
Benefit plans
Changes in accumulated other comprehensive income (loss)
Balance at the beginning of the period	-565	-637	-578	-780
Other comprehensive income (loss) before reclassifications net of tax	-216		-216
Other comprehensive income (loss) (OCI) before reclassifications, tax effect	0	0	0	0
Reclassifications from OCI to:
Other adjustments	3	-12	-37	79
Comprehensive income (loss), net of tax	-172	13	-159	156
Comprehensive income (loss), tax effect	0	0	0	0
Balance at the end of the period	-737	-624	-737	-624
Benefit plans, prior service credit (cost) | Reclassification out of accumulated other comprehensive income
Reclassifications from OCI to:
Costs of revenue, net of tax	2	2	6	6
Costs of revenue, tax effect	0	0	0	0
Selling, general and administrative expenses, net of tax	1		1	2
Selling, general and administrative expenses, tax effect	0	0	0	0
Benefit plans, net actuarial gain (loss) | Reclassification out of accumulated other comprehensive income
Reclassifications from OCI to:
Costs of revenue, net of tax	23	18	52	53
Costs of revenue, tax effect	0	0	0	0
Selling, general and administrative expenses, net of tax	15	5	35	16
Selling, general and administrative expenses, tax effect	$0	$0	$0	$0

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent event, Derivatives designated as hedging instruments, Foreign currency forward contracts)	Jan. 08, 2015	Jan. 08, 2015	Jan. 08, 2015	Jan. 08, 2015	Jan. 08, 2015	Jan. 08, 2015
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	U.S. Dollar and Euro Forward Contract	U.S. Dollar and Euro Forward Contract
	USD ($)	GBP (£)	USD ($)	SEK	USD ($)	EUR (€)
Subsequent Events
Aggregate notional amount of foreign currency forward contracts	$10,493	£ 6,982	$914	7,301	$441	€ 376
Weighted average settlement rate	1.5		0.13		1.17