Philippine Telegraph and Telephone Corp. said Tuesday it reduced its net loss in 2021 on the back of higher revenues.
PT&T said net loss amounted to P22.8 million last year, down 27 percent from P31.3 million in 2020. Revenues rose 19 percent to P520.74 million last year from P438.62 million in 2020.
The company attributed the growth in revenues to an uptick in IT service demand and a respectable increase in subscriber base at 9 percent.
“The easing of mobility restrictions in 2021 has reopened the economy, providing PT&T further boost to serve more customers with relevant connectivity and IT service bundles, enabling them to adapt and grow their businesses in these challenging times,” PT&T president and chief executive James Velasquez said.
PT&T said it was on track towards becoming the partner of choice for broadband connectivity and cutting-edge digital transformation solutions in the markets it serves.