(Bloomberg) -- Adani Transmission Ltd.’s profit jumped 78% in the third quarter, helped by a one-time gain following a regulatory order, potentially giving some relief to investors shaken by a brutal selloff in shares of Adani group companies.

The Ahmedabad-based power utility, controlled by billionaire Gautam Adani, reported a net income of 4.74 billion rupees ($57.3 million) during the quarter ended on Dec. 31, it said in a filing Monday, compared with 2.67 billion rupees a year earlier. There weren’t enough brokerages issuing profit estimates for the company to derive an average forecast.

The market value of Adani’s empire has slumped by more than half after US short seller Hindenburg Research last month accused the group of fraud to inflate revenue and stock prices, which forced Adani Enterprises Ltd. to pull the plug on a record $2.5 billion follow-on share sale. The conglomerate has repeatedly denied Hindenburg’s allegations of corporate wrongdoing and threatened legal action.

Revenue rose 26% to 32.8 billion rupees, while total costs increased 8.5% to 31.8 billion rupees, the filing said. Its profit was supported by a net gain of 1.98 billion rupees following a regulatory order, it said in a statement. 

Adani Transmission is the second company from the group’s stable that have announced results. The recently-acquired cement maker ACC Ltd. declared earnings on Jan. 31, while some others are scheduled to release their results this week. Adani Enterprises, the group’s flagship firm, hasn’t announced a date yet.

Adani and his family have prepaid $1.11 billion worth of borrowings backed by shares. While there was no suggestion that Adani Group entities would struggle to make dollar debt payments due soon — and the firm has flagged interest coverage ratios that show it has the ability to meet such obligations — the move is an attempt to restore confidence after some banks stopped accepting the conglomerate’s securities as collateral in client trades. 

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