DITO trims losses on subscriber growth

D ITO Telecommunity Corp. of Davao-based tycoon Dennis Uy reduced its net loss by four percent in the first nine months, fueled by growing demand for its mobile and fixed wireless access (FWA) services.

- By DEXTER BARRO II

In a disclosure to the Philippine Stock Exchange (PSE), DITO operator DITO CME Holdings Corp. said its net losses declined to ₱24.93 billion from January to September, compared to ₱25.85 billion in the same period last year.

DITO CME improved its revenues by 25 percent in the nine-month period to ₱14.92 billion from ₱11.89 billion last year, primarily generated by DITO.

This tempered higher expenses during the period, which rose by 14 percent to ₱24.65 billion, driven by higher operating costs as the country's youngest telco continues to roll out its services.