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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

MidTierservicesfirmMindtreeLtdwillreportlowerrevenuesandprofitsthantheApriltoJunequarterasitseescustomerscancelprojects,slowingbusinessramp-upfromkeycustomersandexpectedlossesinitsUKsubsidiaryBluefinduetoslowingbusiness. MindtreehadreportedprofitofRs123.5croreonflattishrevenuesofRs1,327.6croreinthequartertoJune.MarginscalculatedassalesminusexpensesisexpectedtobelowerinthequartertoSeptemberthanthepreviousquarter "Mindtreehasimplementedarangeofoperationalefficiencyimprovementsand ...