Movie theatre operator Palace Amusement ended its first quarter with more losses despite improved revenues.
At the end of September, the company registered a net loss of $79.6 million.
That was a decline from the $94.7 million loss suffered during the same period last year.
Palace earned $80 million in revenue during the three months versus $29 million in 2020.
Palace Amusement says COVID-19 containment measures including curfews, gathering limit restrictions and no-movement days in the quarter significantly impacted its earnings.