Dubai Taxi Company Q3 net profit jumps 28% to Dh76.4 million

Dubai: Dubai Taxi Company maintained strong momentum in the third quarter, reporting a 28% increase in net profit to Dh76.4 million on the back of higher trip volumes, expanding fleet capacity and steady demand across its mobility segments.

Revenue for the quarter rose 15% year on year to Dh585.3 million. EBITDA grew 23% to Dh151.4 million, supported by improved operational efficiency and lower promotional spending at Connectech, the company’s subsidiary that includes Bolt e-hailing operations. EBITDA margin reached 26%, two percentage points higher than last year.

The company completed 13.1 million trips across its taxi and limousine segments in the quarter, a 7% rise driven by fleet additions and stronger visitor inflows. As of September, DTC’s total operational fleet stood at 10,500 vehicles, up 19% year on year. The operational taxi fleet reached 6,215, including 401 fully electric vehicles, reflecting progress toward a more sustainable network.

Taxi segment revenue increased 12% to Dh506 million. Limousine revenue grew 1% to Dh27.8 million, while the bus segment reported Dh29.8 million in revenue, a 90% increase linked to revised contract terms with a major customer.

Delivery bike operations continued to expand, with revenue rising 62% to Dh18.3 million as demand in the on-demand delivery market remained strong.

Chief Executive Officer Mansoor Rahma Alfalasi said the third quarter reinforced the company’s upward trajectory.

“A key highlight this quarter was the launch of our strategic partnership with Kabi, marking a major milestone in advancing Dubai’s e-hailing ecosystem. By uniting two of the city’s leading mobility players, we are driving innovation, efficiency, and sustainability in line with Dubai’s vision to transition 80% of taxi trips to e-hailing."

During the quarter, DTC entered a strategic alliance with Kabi, bringing together 6,215 DTC taxis and 3,680 Kabi vehicles into the Bolt and Zed e-hailing platforms. The combined fleet represents 72% of Dubai’s taxi market and supports the city’s target of shifting 80% of taxi trips to e-hailing.

The Bolt partnership continues to gather momentum. Since launch, the app has recorded more than 652,000 downloads and over 27,000 registered cars. New collaborations with Mastercard and Emirates NBD have broadened brand visibility and opened additional revenue avenues.

DTC ended the quarter with Dh68 million in cash and a net-debt-to-EBITDA ratio of 1.5 times. The company distributed a Dh160.7 million dividend in August for the first half of 2025, equal to Dh6.43 fils per share, in line with its policy of returning at least 85% of annual net profit.