Infosys Ltd has said that it is facing a "challenging environment," as the Indian software services exporter's main outsourcing markets--the U.S. and Europe--remain weighed by a spiralling debt crisis and slowing economic growth.

"We are definitely in a challenging environment today, but we clearly believe that the strategic direction we are taking and the operational changes we are making today will make us stronger," Chief Operating officer S.D. Shibulal, who will take over as the new chief executive officer on Aug. 21, told analysts in a conference.