Dito far from profit as losses double

Bleeding telco Dito CME Holdings Corp. aims to book a profit by 2027, but it is still nowhere close to reaching that goal as of 2024 when its net loss and capital deficiency worsened by two-fold.

- By ELIJAH FELICE ROSALES

Dito CME yesterday reported that its net loss more than doubled to P14.71 billion in 2024 from P6.93 billion in 2023 on higher interest expenses and foreign exchange costs.

The telco arm of the Udenna Group also doubled its capital deficiency to P73.39 billion, mainly because the company financed the infrastructure rollout of Dito Telecommunity Corp.

The bright spot for Dito CME, however, is that its revenue picked up by 45 percent to P16.35 billion, lifted by the growing market for internet data. Further, Dito grew its subscriber base to 13.67 million in 2024, as the telco covers 900 cities and municipalities.