Infosys posts warning on revenues

The Indian IT sector has been hit by the global downturn

Indian outsourcing giant Infosys has reported a small rise in quarterly profit, but once again warned revenues would fall in the coming year.

India's second-largest information technology outsourcing firm saw a 1.6% rise in earnings to $313m (£192m) in net income for the quarter to July.

However, revenues for the period fell by 2.9% to $1.12bn.

And Infosys said revenues would fall by 7.1% to 8.7% in the current quarter, to between $1.11bn and $1.13bn.

"We believe that in the short term, the global economic environment will continue to be challenging," chief executive S. Gopalakrishnan said in a statement.