NIIT Technologies has received a part payment amounting to Rs 41.9 crore under a settlement agreement. This will result in revenue recognition of Rs 27.1 crore for services contracted, and reversal of provisions amounting to Rs 13.15 crore in the financial statement of the Company for FY 2017.
NIIT Technologies is a leading global IT solutions organization, servicing customers in Americas, Europe, Middle East, Asia and Australia. It offers services in Application Development and Maintenance, Infrastructure Management Services, IP Asset or Platform Solutions, and Business Process Management to organizations.
