For the most part, India\u2019s leading IT outsourcing firms have managed to resist the heavy downward tug of the recent recession and ongoing economic sluggishness with fairly consistent upticks in financial health. But cracks have appeared of late, however tiny.India\u2019s second-largest software exporter and outsourcing services provider, Infosys,\u00a0reported in its third quarter results for fiscal year 2011 a 14.2 percent rise in net profit compared to the same quarter a year earlier. But that profit \u2013 17.8 billion rupees \u2013 was a bit lower than the 18.2 billion rupees estimate in a Reuters poll (this is according to this article).But in U.S. dollars, the company boosted its net profit to $397 million, up by 18.9 percent, and its revenue in the quarter was $ 1.6 billion, up by 28.7 percent from the same quarter in the previous year. Infosys reports in accordance with International Financial Reporting Standards (IFRS).Not shabby, of course. But according to the Seeking Alpha article, the major Indian IT outsourcing companies were expected to show more robust growth, and Infosys\u2019 results were a little deflating.The company itself checked enthusiasm for current and future upticks. \u201cThe weaker economic recovery in developed markets coupled with high unemployment and risk of sovereign default could impact industry growth,\u201d S. Gopalakrishnan, Infosys\u2019 CEO and managing director, said in a prepared statement. \u201cWe are closely working with our clients as they fine tune their strategies for the future.\u201dIn addition, the company\u2019s CFO, V. Balakrishnan, said in the statement that \u201cuncertainties related to sustainability of the global economic recovery could create greater currency volatility in the near future.\u201d But in this PC World India article, there is optimism. Company execs report that U.S. customers are finalizing their budgets on time, and while growth in spending isn\u2019t great there is a focus on doing more work offshore. Infosys is forecasting that revenue for its fiscal year ending March 31 will be about $6 billion, or an approximate 26 percent growth year over year.With Infosys having reported its earnings, all eyes are on the other big Indian IT outsourcing firms, Tata Consultancy Services (TCS) and Wipro. I\u2019ll put up another blog in a bit on TCS, which just reported (big hint: up). Wipro reports Jan. 21st.