Indian outsourcer Infosys Technologies saw a 24.5% increase in year-on-year sales for the quarter ended 30 June, but there are signs that its market is slowing.
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Infosys said sales increased to £580m for the quarter, while profits went up by 16% to around £150m.
In the same quarter last year, the firm saw a year-on-year sales increase of around 41%, and profits jump 50%.
"Although the global economic environment continues to remain uncertain and could impact IT spending in the short term, we see several opportunities for growth as customers relentlessly focus on improving efficiency," said Kris Gopalakrishnan, Infosys CEO.
But a recent analyst report showed that other offshore IT processing locations such as Malaysia, the Phillipines and even New Zealand were now proving to be more attractive locations for customers.