The parent company of telco firm DITO Telecommunity (Tel), headed by Davao-based tycoon Dennis Uy, saw its net losses more than halved in the first quarter of the year as revenues continued to soar, driven by strong demand for mobile services.

In a disclosure to the Philippine Stock Exchange (PSE), DITO CME Holdings Corp. reported that its net losses fell to ₱4.65 billion in the first three months of 2025, down 54 percent from ₱10.05 billion in the same period last year.

The improvement comes as the company’s revenues—mainly generated by DITO Tel—soared 24 percent to ₱4.69 billion from the previous year’s ₱3.79 billion.

During the reference period, network coverage increased from 853 to 925 cities.

By the end of March, DITO Tel had a total of 13.9 million mobile subscribers, with an average revenue per user (ARPU) of ₱110 per month.

The company reported a foreign currency exchange gain of ₱2.47 billion in the quarter from translating foreign currency-denominated interest-bearing loans and trade payables—a strong recovery from a foreign currency exchange loss of ₱2.18 billion in 2024.

Expenses in the first quarter rose 15 percent to ₱8.11 billion from ₱7.04 billion, amid costlier inventories, general, selling, and administrative costs, plus depreciation and amortization.

The commercial rollout of its wide array of services this year was cited as a key driver of the uptick in costs.

As part of its commitment to its franchise, DITO Tel completed its fifth and final technical audit in September last year.

The audit showed that it had a minimum average broadband speed of 92.87 megabits per second (Mbps) for 4G and 345.28 Mbps for 5G, surpassing the minimum 55 Mbps requirement.

It likewise improved its national population coverage to 86.3 percent from 80.65 percent the year before, exceeding its 80.01-percent commitment.

In a separate disclosure detailing its 2024 financial results, DITO CME reported that its net losses ballooned 109 percent to ₱41.01 billion last year, up from ₱19.6 billion in 2023.

“This was mainly due to higher operating expenses and higher other charges offset by gross revenue generated from the start of DITO Tel’s commercial operations since March 8, 2021,” it said.

The company recorded a foreign currency exchange loss of ₱8.29 billion due to the depreciation of the Philippine peso against the Chinese yuan and the United States (US) dollar.

Total revenues reached ₱16.3 billion—a 45-percent jump from ₱11.3 billion—while notching 13.67 million subscribers, with ARPU held steady at ₱108 per month.

By the end of last year, DITO CME reported adjusted earnings before interest, depreciation, and amortization (EBITDA) of ₱422 million. This is a huge reversal from the ₱1.6 billion EBITDA loss in 2023.