Consolidated net profit came in at 366.8 million Indian rupees ($4.41 million) for the three months ended Sept. 30, compared with a loss of 74.1 million rupees a year earlier.

Analysts had expected a profit of 984.3 million rupees, according to LSEG data.

Voltas' expenses jumped 33.4% to 22.46 billion rupees following a nearly 60% rise in input costs and an 11.3% increase in employee costs.

The company's revenue rose nearly 30% to 22.93 billion rupees, beating estimates of 21.03 billion rupees.

Voltas also approved a proposal to raise funds via issuance of non-convertible debentures on a private placement basis worth 5 billion rupees. The funds would be used for the company's new manufacturing plants at Chennai and the state of Gujarat.

($1 = 83.1454 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Shounak Dasgupta)