XML 26 R15.htm IDEA: XBRL DOCUMENT v3.25.3
Income Taxes
 6 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

Note 7 - Income Taxes

 

The Company determines its tax provision for interim periods using an estimate of its annual effective tax rate adjusted for discrete items, if any, that are considered in the relevant period. The Company updated its estimate of the annual effective tax rate, and if its estimated tax rate changes, the Company will be making a cumulative adjustment.

 

The Company’s effective tax rate (“ETR”) is 32.7% and 8.4% for the six months ended September, 2025 and 2024, respectively. The movement in Effective Tax Rate (ETR) was primarily due to the non-recognition of deferred tax benefits on losses incurred in certain lower-tax jurisdictions. In contrast, during the six months ended September 30, 2024, such benefits were recognized, resulting in a comparatively lower effective tax rate.

 

The Company’s effective tax rate (“ETR”) is 55.3% and 18.6% for the three months ended September 30, 2025, and 2024, respectively. The change in ETR was primarily due to the non-recognition of deferred tax benefits on losses incurred in certain lower-tax jurisdictions. In contrast, during the three months ended September 30, 2024, such benefits were recognized, resulting in a comparatively lower effective tax rate.