Dubai Taxi Co. made 13m trips in Q1-2025 - and that's good enough for 5% revenue spike

Dubai: There were 13 million trips made in Dubai Taxi Co.'s taxis and limousines in the first three months of 2205, which is up 8% year-on-year. That was enough to get the revenues rolling to Dh588.3 million, higher by 5%.

The Q1-2025 net profit came to Dh84 million, which is 23% down overall. The DFM-listed company said this was primarily the 'impact of the promotional discounts offered as part of Bolt's launch campaign'.

It was recently that Dubai Taxi Corp. introduced the Bolt - the global shared mobility platform - with around 700 taxis.

"To build a new platform like Bolt, especially with the competition from Uber and others, we are happy we entered the market in aggressive way,” said Mansoor Rahma Alfalasi, the CEO of DTC, on his take on the promotional discounts for the launch and what it meant to DTC's profit.

"We are building a long-term relationship with Bolt, and that means we have to pay the bill in terms of acquiring customers, incentivizing the drivers.

"We started to spend the money in December (through to) February, by March, we stopped this kind of promotion."

The results are there - "We started to take market share in the ride-sharing space," said the CEO. "We could even be the No. 2 in the Dubai market already.

"We are also in the final stages of taking the Bolt operation beyond Dubai."

These vehicles will be part of DTC’s dedicated airport fleet. "Since the launch of the partnership in December 2024, the Bolt app has 279,000 downloads, and 267 fleet partners have been on-boarded with 14,600 cars registered on the platform," said the company in a statement.

It shows the 'strength of the ecosystem DTC is building'.

The Bolt platform maintained an average estimated time of arrival under three minutes.

Through the first three months of 2025, the Dubai Taxi fleet kept getting bigger. There was the 250 additional fully electric taxis, bringing the total operational fleet to more than 6,200 taxis

And then DTC signed the exclusive 5-year strategic partnership with Dubai Airports. (In 2024, there were 93 million passengers passing through the local airports, which resulted in 6 million limousine and taxi trips.

According to Mansoor Rahma Alfalasi, the CEO, "DTC delivered a solid start to the year, with strong growth across our core taxi and delivery bike segments reflecting the sustained momentum in Dubai’s mobility landscape.

"The expansion of our fleet and continued investment in operational efficiency enabled us to serve rising demand."