UPDATE 1-Watson Wyatt Q1 profit falls 15 pct, sees weak Q2

* Q1 EPS $0.69 vs $0.82 yr ago, rev falls 6 pct

* Sees Q2 adj EPS $0.81 - $0.86

* Sees Q2 rev $405 mln - $420 mln

* Backs FY view adj EPS view $3.50 - $3.60

* Backs FY rev view $1.63 bln - $1.70 bln

Nov 5 (Reuters) - Watson Wyatt Worldwide Inc WW.N, a human resource and consultancy services provider, posted a 15 percent drop in quarterly profit as revenue at its benefits group fell, and the company forecast a weak second quarter.

The company expects second-quarter adjusted earnings of 81 cents to 86 cents a share, on revenue of $405 million to $420 million.

Analysts on average were expecting earnings of 89 cents a share, before items, on revenue of $427.1 million, according to Thomson Reuters I/B/E/S.

For the first quarter ended Sept. 30, net income was $29.8 million, or 69 cents a share, compared with $35.2 million, or 82 cents a share, a year ago.

Revenue fell 6 percent to $401.3 million. Revenue at benefits group, which accounts for more than half of the company's total revenue, fell 4 percent to $223.7 million.

Analysts on average were expecting earnings of 72 cents a share, before special items, on revenue of $394 million. Shares of the company closed at $43.58 Wednesday on the New York Stock Exchange. (Reporting by Divya Sharma in Bangalore; Editing by Deepak Kannan)