Listed Megaworld Corp. reported on Wednesday that its net income sank to P8.1 billion in the first nine months of 2020 despite improved earnings in the third quarter as a result of relaxed quarantine restrictions.

In a disclosure, the Andrew Tan-led property giant said the amount was a 41-percent decrease from P13.7 billion in the same period in 2019, while consolidated revenues declined by 31 percent year-on-year to P33.3 billion from P48.1 billion.

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