DITO Telecommunity Corp. on Thursday projected sustaining its growth trajectory this year with the launching of its postpaid and enterprise business in June.
“Last year we earned P7.2 billion and that’s just our prepaid business. We haven’t offer anything else. In June, we are launching our postpaid and enterprise business. That’s going to affect [our revenue] significantly,” Adel Tamano, DITO chief administrative officer, said in a briefing.
DITO revenue in 2022 proved higher compared to the P2.2 billion earnings in 2021.
The company, however, incurred a P25.63 billion losses last year, up from P17.95 billion in 2021 due to continued network expansion.
Despite the increasing losses, Tamano assured the public that DITO “will stay and we have a very, very bright future.”
Tamano said DITO is focused on achieving its capital expenditure commitment to the government and expand its network nationwide.
The company already 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.
For this year, the company is spending P27 billion versus P50 billion last year.
DITO’s so-called population cover has hit 78 percent and does business with 15 million subscribers as of end-2022.
