MindTree's (MTL) $ revenues declined 3% QoQ to $193 mn marginally below our expectation of $196 mn (1.5% QoQ de-growth) Revenues in rupees declined 2.4% QoQ to | 1,295.4 crore, also below our 1.1% QoQ de-growth and | 1312.7 crore estimate (average rupee realised: 67.11 vs. 66.96 assumed) The EBITDA margin declined 220 bps sequentially to 12.7%. It was marginally below our expectation of 12.8% mainly on account of a a wage hike (down 230 bps) and restructuring cost (down 30 bps)...