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We will not reinvent Mindtree

Software services company MindTree Ltd reported a 50% drop in profit in the year ended 31 March amid steadily shrinking margins. The past year also saw the exit of co-founder and chairman Ashok Soota and the collapse of its smartphone foray, which cost $8 million (Rs.35 crore). In an interview, newly appointed chairman Albert Hieronimus said there is no need to reinvent MindTree, and its core strengths will take it to its stated goal of $1 billion in revenue. Edited excerpts: