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.

Megastar Amitabh Bachchan, who underwent tests for his stomach ailment, has been advised few days of rest and is under medical observation.

“The tests have been conducted. They do not show anything alarming, but the symptoms persist, albeit on a lesser scale than last time,” Bachchan wrote on his blog.

The actor was scheduled to travel to Singapore to be with his friend and Samajwadi party leader Amar Singh, who will undergo surgery for a kidney transplant.

His wife Jaya, son Abhishek and daughter-in-law Aishwarya are already in Singapore.

“In this hour of trial for him, I needed to be there, but the doctors advised a few days of rest and observation for me,” he said.

“I understand their concern. It would not be appropriate to find myself in trouble in an alien land, even though I am certain the medical facilities there shall be more than adequate. But to be in the vicinity of home and with people who know my intricate system is not to be ignored,” the actor wrote.

Bachchan, who was shooting in London for “Pa” returned home two days ago, suffering a stomach pain similar to the one he experienced on his last birthday, when he had to be hospitalised for a week.