Converge Information and Communications Technology Solutions, Inc. said its net income doubled last year after residential subscriber numbers soared.

In 2021, Converge’s profit jumped from P3.39 billion to P7.16 billion amid strong and continued subscriber take-up now at over 1.69 million, the company disclosed on Thursday, March 17.

Likewise, revenues grew 69 percent to P26.48 billion from P15.652 billion in the previous year.

Significantly, revenues from residential business increased 83 percent to P23.13 billion from P12.628 billion due to higher subscriber base and improving average monthly revenue per user (ARPU).

At end-2021, Converge’s nationwide network reached more than 10.9 million homes, representing a 42.7 percent household coverage.

On the other hand, enterprise revenues increased 11 percent to P3.35 billion last year driven mostly by strong growth in the small and medium enterprise (SME) and large enterprise segments.

The SME business continued to grow its customer base to 22,130 at end-December 2021, almost tripling the number the end-2020 level.

“As we continue to pursue our Go National strategy through 2022, we make sure we have high service availability for our subscribers in Visayas and Mindanao," Dennis Anthony Uy, Converge chief operating officer and co-founder said.

"With the redundancy ring completed, we’re significantly reducing the chances of service outages since we have an alternative network route in place. The whole Philippine digital highway is now strongly protected against cable breaks,” he explained.

Converge is also intensifying its expansion in vertical connectivity, with its portfolio of wired buildings and condominiums numbering 800.