Deferred revenue

12 Months Ended

Mar. 31, 2022

Revenue Recognition and Deferred Revenue [Abstract]

Deferred revenue

Deferred revenue

The movement in deferred revenue is as following (in thousands):

	As of March 31,
	2021		2022
Deferred revenue
Opening balance	$	5,077	$	5,788
Increases during the year	33,009		53,267
Recognized as revenue	(33,210)		(52,486)
Foreign currency translation difference	912		123
Closing balance	$	5,788	$	6,692

During the year ended March 31, 2021 and March 31, 2022, revenue of $3.1 million and $3.8 million, respectively, was recognized which was included in the deferred revenue balances as of the beginning of the year.