Net income of $131m recorded by SaskTel in 2020-2021

SaskTel has released its annual report showing a profit of $130.8 million with a year-over-year revenue growth of $34 million. Operating revenues were over $1.3 billion.

Minister responsible for SaskTel Don Morgan tabled the Crown corporation’s annual report on Thursday. He said this is a reflection of continued wireless adoption and increased revenue from wireline growth services.

SaskTel paid dividends of over $110 million to Crown Investments Corporation in 2020-2021, an increase of more than 3 million from the previous year.

When speaking about the impacts of the COVID-19 pandemic on SaskTel, Morgan said while it was a year of strong financial results, he admitted this past fiscal year was like no other due to COVID-19. Morgan mentioned how SaskTel’s priority during the pandemic was to keep customers and employees connected, healthy and safe.

“The biggest testament to the strength of the corporation was the performance of the SaskTel networks and systems during this unprecedented time,” he stated. “SaskTel wireless data traffic has also seen record increases since the beginning of the pandemic.”

SaskTel offered unlimited wireless data from Mar. 17 to Jun. 8, 2020, and again from Dec. 17, 2020 to Jan. 11, 2021 as part of their commitment to keep people connected.

“We know that data usage was far greater during the pandemic, especially during the winter months,” added Morgan.

The full SaskTel 2020-2021 report can be found on their website.

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