Mindtree reported a dismal performance in the quarter ended June 30, 2016. While the company's revenue came marginally below our estimate, on the margin front it disappointed significantly with EBIT margin crashing 194 bps qoq (v/s our estimate 101 bps qoq expansion), on account of higher visa cost and losses in the acquired entity, Bluefin. Resultantly, PAT declined 7.1% qoq (our estimate 8.7% rise). Outlook for 2QFY17 is disappointing on revenue and margin fronts in light of client-specific headwinds and global uncertainty due to BREXIT, while likely recovery in 2H seems...