SaskTel’s 2021/2022 fiscal year pulls in $104.4 million net income

Saskatchewan-based telecom provider SaskTel reveals it pulled in millions in revenue during the 2021/2022 fiscal year.

Its annual report shows the company made $1,300.9 million. Wireless network services represented 47 percent of the revenue, fixed broadband about 22 percent, wireline communications 13.6 percent, and maxTV services represented almost 8 percent.

The company’s revenue decreased by $16.8 million compared to its last report. SaskTel says declines in legacy wireless services and demands for customer premise equipment played a role.

But the company reports that fixed broadband, data revenue growth and an increase in wireless revenues offset this figure.

SaskTel’s broadband internet subscribers grew by three percent, and wireless subscribers grew by 1.3 percent, compared to its last annual report.

Capital expenditures

SaskTel reports it spent just over $465.1 million over the past year. A majority of the funds (31.5 percent) went towards its wireless spectrum.

As of March 31st, the company has over 1,000 cell towers, including 700 in rural parts of the province, as part of its wireless network.

Image credit: SaskTel

Source: SaskTel