Unfortunately, 7.1 percentile is very very low. With this percentile, it will be very hard for you to end up in any good college. There might be some college which might give admission to you but those colleges are poor in faculty, infrastructure, placements etc. And it won't fetch you anything more than a namesake MBA degree.

Still in order to solve your query in a better way you need to specify for which college you are asking you will get admission or not so that I can give you answer in a better way.

I would strongly recommend you to either work on your mistakes and sit in the MAT' Feb exam, get a good score to get admission in a good college or if you have a chance then take a whole year rest work on your basics and then next year crack CAT with a very good percentile.

Make a wise decision for your career. All the best!!