MUMBAI, India – Indian outsourcing bellwether Infosys Technologies Ltd. reported a slight rise in quarterly profit and warned of a steep drop in revenue as its global clients struggle to cope with the economic slowdown.
Infosys, India’s second largest outsourcing firm, earned $313.0 million in net income for the quarter ended June 30 based on international accounting standards, a rise of 1.6 percent from a year earlier, it said Friday.

Revenues for the period fell 2.9 percent to $1.12 billion, but still beat analyst expectations.
The company said revenues would decline by 7.1 percent to 8.7 percent, to between $1.11 billion and $1.13 billion, in the current quarter.
Revenues for the fiscal year, which ends in March, will be $4.45 billion to $4.52 billion, the company predicted – a decline of 3.1 percent to 4.6 percent, but slightly more optimistic than its April forecast.
We’ve had a good quarter, chief executive S. Gopalakrishnan told The Associated Press by phone. Medium to long term I’m very optimistic that this is still a growth industry.
In the short term, things are going to be challenging, volatile, and unpredictable. That’s why we are cautious, he said.

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