Stocks

NIIT Tech falls on dispute with client

Reuters | Updated on January 24, 2018 Published on March 24, 2015

Shares of NIIT Technologies Ltd today fell as much as 6.2 per cent as the company says dispute between a unit and a client in APAC region may result in claims and counter claims.

The company has provided up to $10 million towards unbilled revenue in the current quarter statement.

According to brokerage IndiaNivesth, this could hurt the consolidated EBITDA during Q4FY15.

IndiaNivesh expects NIIT Tech multiple to see some de-rating, on account of lower-than-industry-average revenue growth and lowest margins performance among peers.

Published on March 24, 2015
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