Dubai Taxi Company Q3 Net Profit Rises 28% to Dh76.4 Million
Revenue Growth and Operational Efficiency
In the latest quarter, Dubai Taxi Company (DTC) reported a significant increase in revenue, which rose by 15% year-on-year to reach Dh585.3 million. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) also saw robust growth, climbing 23% to Dh151.4 million. This performance was bolstered by enhanced operational efficiency and a reduction in promotional expenses at Connectech, the subsidiary overseeing Bolt e-hailing operations. DTC’s EBITDA margin climbed to 26%, reflecting a two-percentage-point improvement from the previous year.
Fleet Expansion Fuels Increased Performance
DTC completed 13.1 million trips across its taxi and limousine services during the quarter, marking a 7% rise attributed to fleet expansions and increased visitor numbers. As of September, the total operational fleet comprised 10,500 vehicles, marking a 19% increase compared to the same period last year. The operational taxi fleet, which included 401 fully electric vehicles, expanded to 6,215 units, indicating steps toward creating a more sustainable transportation network.
The taxi segment generated revenue of Dh506 million, representing a 12% increase. The limousine segment added Dh27.8 million, a modest rise of 1%. Meanwhile, the bus segment reported an impressive Dh29.8 million in revenue, reflecting a 90% increase due to restructured contract agreements with a key client.
DTC’s foray into delivery services also proved fruitful. Revenue from delivery bike operations surged by 62% to Dh18.3 million, driven by strong demand in the on-demand delivery sector.
Strategic Initiatives and Partnerships
Mansoor Rahma Alfalasi, DTC’s Chief Executive Officer, stated that the third quarter reaffirmed the company’s growth trajectory. A key highlight was the recent launch of a strategic partnership with Kabi, representing a milestone in the development of 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,” he remarked.
Integration of Dubai’s E-Hailing Services
During this quarter, DTC entered a significant partnership with Kabi, successfully integrating 6,215 DTC taxis with 3,680 Kabi vehicles onto the Bolt and Zed e-hailing platforms. This combined fleet constitutes 72% of Dubai’s taxi market, aligning with the city’s ambitious target of converting 80% of taxi journeys to e-hailing services.
The partnership with Bolt has gained substantial traction. Since its launch, the app has garnered over 652,000 downloads and registered more than 27,000 vehicles. New collaborations with key financial institutions have further enhanced brand visibility and opened additional revenue channels.
Financial Health and Dividend Distribution
At the close of the quarter, DTC maintained a strong financial position, ending with cash reserves of Dh68 million and a net-debt-to-EBITDA ratio of 1.5 times. In August, the company distributed a dividend of Dh160.7 million for the first half of 2025, equating to Dh6.43 fils per share. This distribution aligns with DTC’s commitment to return at least 85% of its annual net profit to shareholders.
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