DITO CME Holdings Corp., the telecommunications arm of Davao-based businessman Dennis Uy, continued to incur losses in the first quarter, though at a slower pace, as expenses still outpaced earnings.
The company’s net loss narrowed to P1.66 billion, down from P4.11 billion in the same period last year, driven by higher revenues and lower non-operating expenses.
DITO reported gross revenue of P4.69 billion for the January–March quarter, up from P3.78 billion in the first quarter of 2024. However, gross expenses climbed to P8.11 billion from P7.04 billion.
Notably, non-operating income surged to P2.47 billion, a significant jump from P6.24 million last year. Meanwhile, operating expenses fell to P3.7 billion, down from P6.8 billion during the same period.
DITO late last year raised through a follow-on offering a total P2 billion, more than half of which was set aside for the commercial rollout of its mobile brand DITO Telecommunity.
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