DITO Telecommunity Corp. said Thursday it expects to sustain its growth momentum this year as it is set to launch postpaid and enterprise business by June.
“Last year, we earned P7.2 billion. That’s just our prepaid business. We haven’t offered anything else. In June, we are launching our postpaid and enterprise business. That’s going to affect [our revenue] significantly,” DITO chief administrative officer Adel Tamano said in a news briefing.
DITO said revenues in 2022 were higher compared to the P2.2-billion earnings in 2021.
The company, however, incurred a P25.63-billion loss last year, wider than the P17.95-billion loss in 2021 on continued network expansion.
Tamano said that despite the widening losses, DITO “will stay and we have a very, very bright future.”
Tamano said DITO was focused on achieving its capital expenditure commitment to the government to expand its network nationwide.
The company spent over P200 billion for the initial rollout of its infrastructure and other operating expenses as part of its commitment to invest P257 billion over a five-year period to achieve 55 megabits per second of internet speed, covering 84 percent of the population.
The company is spending P27 billion this year, lower than P50 billion last year.
DITO’s population coverage reached about 78 percent. It had 15 million subscribers as of end-2022.