DITO Telecommunity Corp. said Friday it passed its fifth mandatory performance audit by the National Telecommunications Commission.
NTC said its independent auditor, R.G. Manabat & Co. found that DITO had a national population coverage of 86.30 percent.
It said that with respect to the minimum average broadband speeds (MABS), DITO delivered 92.87 megabists per second (Mbps) for 4G and 597.70 Mbps for 5G for all sites.
Based on the factual findings of the independent auditor, NTC said DITO “passed” the technical audit of its national population coverage and MABS for the fifth year.
The yearly independent audit is part of the conditions set forth in the certificate of public convenience and necessity given to the telco.
DITO Tel had more than 11.3 million subscribers as of August 2024, resulting in increasing cash flows from operations.
The company said it expects to be EBITDA [earnings before interest, tax, depreciation and amortization] positive by end-2025 and profitable by end-2028.
Its parent firm, DITO CME Holdings Corp., earlier said it was aiming to raise up to P40.26 billion until 2028 to address its negative equity positions and finance its expansion plan.
The company raised P5.5 billion as of end-2023 through private investments made by third parties Xterra Ventures, Pte Ltd., Summit Telco Corporation Pte Ltd. and Summit Telco Holdings Corp.
DITO CME reported a total comprehensive loss amounting to P19.56 billion in 2023, resulting in a capital deficiency of P35.37 billion.
Its capital deficiency increased to P44.43 billion as of end-March 2024.
