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DITO CME experienced Php2.8 billion loss in Jan-Sept

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DITO CME, the parent company of third-telco DITO Telecommunity, announced that its net loss increased to Php2.8 billion.

The company disclosed to the PSE last Tuesday that from the beginning of the year until September, the company was able to generate Php327 million in revenues, which resulted in Php287 million gross profit.

However, DITO CME reported an operating loss of Php1.459 billion, due to the Php1.746 billion increase in operating expenses that was a result of the consolidation of DITO Telecommunity into the company.

The company said that another Php1.34 billion in losses were written as “inclusive of other charges.”

It’s said that the operating expenses climbed due to DITO’s roll-out of services in numerous locations in the country — an obligation they have with the government.

Still, President Eric Alberto of DITO CME remains positive as they have reached certain milestones. Since its commercial rollout in March, the company was able to accumulate 4 million subscribers.

“DITO Tel is playing the long game. From day one we did mention already that building a telco from scratch will be very much capital extensive but the milestones reached in just nine months of operation is encouraging to say the least,”

President Eric Alberto, DITO CME

As of today, the DITO cellular coverage is available in 340 cities and municipalities across the country with more than 3,300 towers in operations. An additional 4,000 towers are being prepped and are expected to be up in the next twelve months.

Related

DITO is also planning to offer products beyond telco services, which should also help them generate more money. One of those plans includes a partnership with Luna Academy for online learning. They’re also teaming up with Unalytics for customer data analytics, and Acuity Global for media solutions.

Via: ABS-CBN News

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  1. So, for 2021 year to date Q3 results comparisons:

    PLDT reported it now has 6,400 5G capable sites and a total of 72,600 base stations.

    Globe added 1,080 new sites. It upgraded 12,900 sites to either a 4G LTE or 5G standard, with 1,900 5G sites in the NCR.

    Everyone reports differently because they can, and they will use statistics that make them look the best. But, they’re useful as a general idea of scale.