Earnings Per Share("EPS")

12 Months Ended

Mar. 31, 2015

Earnings Per Share ("EPS")

Earnings Per Share ("EPS")

22. Earnings Per Share (“EPS”)

Basic EPS represents net income attributable to common shareholders divided by the weighted average number of common shares outstanding during the measurement period. Our restricted stock shares include rights to receive dividends that are subject to the risk of forfeiture if service requirements are not satisfied, thus these shares are not considered participating securities and are excluded from the basic weighted-average shares outstanding calculation. Diluted EPS represent net income attributable to common shareholders divided by the weighted average number of common shares outstanding during the measurement period while also giving effect to all potentially dilutive common shares that were outstanding during the period.

The calculations of basic and diluted EPS for the periods presented were as follows:

(In U.S. dollars except share data)	Year ended March 31, 2015		July 1, 2013 (inception) to March 31, 2014
Numerator:
Net income	$	25,260,782	$	2,833,843
Denominator:
Weighted average number of common shares outstanding, basic and diluted	56,183,707		32,075,897
EPS:
Basic and diluted	$	0.45	$	0.09

For the year ended March 31, 2015, there were 929,000 shares of unvested restricted stock excluded from the calculation of diluted EPS because the effect of their inclusion would be anti-dilutive. There were no shares of unvested restricted stock excluded from the calculation of diluted EPS for the period ended March 31, 2014.