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Mindtree hit by project cancellations, slowing business to show lower Q2 revenue, profits

The IT firm had reported profit of Rs 123.5 crore on flattish revenues of Rs 1,327.6 crore in the quarter to June

Mindtree hit by project cancellations, slowing business to show lower Q2 revenue, profits

Mid Tier services firm Mindtree Ltd will report lower revenues and profits than the April to June quarter as it sees customers cancel projects, slowing business ramp-up from key customers and expected losses in its UK subsidiary Bluefin due to slowing business. Mindtree had reported profit of Rs 123.5 crore on flattish revenues of Rs 1,327.6 crore in the quarter to June. Margins calculated as sales minus expenses is expected to be lower in the quarter to September than the previous quarter "Mindtree has implemented a range of operational efficiency improvements and ...