SaskTel reports net income of over $125 million

SaskTel posts $126M profit SaskTel reported its net income for the 2015-16 fiscal year; an increase of 2.2 per cent to $126.7 million.

Sasktel reported its net income for the 2015-16 fiscal year; an increase of 2.2 per cent to $126.7 million.

Jim Reiter, the Minister responsible for SaskTel made the announcement Wednesday morning. He said operating revenues reached $1.5 billion with a 0.6 per cent decline in operating expenses. Revenues growth is mainly due to increases in maxTV, internet and data revenue and continued wireless growth.

“SaskTel continues to deliver on its commitment to deploy next-generation technologies including increased bandwidth and cellular infrastructure, broadband upgrades and fibre to the home” said Reiter.

SaskTel CEO Ron Styles talked about some of the challenges the Crown-owned utility faces including increased competition and on-going changes in technology. “SaskTel responded to these challenges by continuing with its cost containment strategy, optimizing on its legacy services and introducing new competitive services into the market” he said.