Tata Consultancy Services on Monday underlined the slowdown affecting the Indian information technology sector, reporting the first quarter-on-quarter fall in profits for three years.

India’s largest outsourcing company said net profit in the quarter ending March 31 fell by 6.17 per cent compared with the December quarter to Rs12.45bn ($412m), missing analysts’ forecasts as a stronger rupee and a slowdown in the US undermined earnings.