DITO losses jump 281% to P17.7B in Q1

MANILA, Philippines — Tycoon Dennis Ang Uy’s DITO CME Holdings Corp. sank deeper into the red in the first quarter, as foreign exchange losses and mounting financing costs chipped away at the continued growth of its telecommunications revenues. In its quarterly report released Monday, the parent company of DITO Telecommunity said its net loss had ballooned to P17.72 billion in the January-to-March period from P4.65 billion a year earlier, an increase of 281.08 percent. This sharp deterioration came as the company booked P9.74 billion in foreign exchange losses during the quarter, compared to a gain of P2.47 billion in the same […]... Keep on reading: DITO losses jump 281% to P17.7B in Q1

Original source: Philippine Daily Inquirer