Dubai Taxi Company Q2 profit jumps 33% as trips, e-hailing boost revenue

Images: DTC/ Dubai Media Office

Dubai Taxi Company (DTC) reported a 33 per cent year-on-year rise in net profit to Dhs105.4m for Q2 2025, as rising passenger demand and expanded fleet operations supported top-line growth.

Revenue for the quarter grew 18 per cent to Dhs625.2m, with earnings before interest, tax, depreciation, and amortisation (EBITDA) rising 30 per cent to Dhs180.6m, reflecting stronger operational efficiency and lower promotional costs at subsidiary Connectech.

The EBITDA margin climbed three percentage points to 29 per cent in Q2 2025.

For H1, revenue rose 11 per cent to Dhs1.2bn and the EBITDA margin stood at 28 per cent.

The company’sboard approved an interim dividend of Dhs160.7m, or 6.43 fils per share, for H1 2025, in line with DTC’s policy to distribute at least 85 per cent of annual net profit in semi-annual payouts.

The dividend is scheduled for distribution in August.

DTC’s segment performance

DTC’s core taxi business posted Q2 revenue of Dhs539.7m, up 18 per cent year-on-year, driven by fleet expansion and high utilisation.

As of June, the operational taxi fleet stood at 6,210 vehicles, including 335 fully electric taxis.

The limousine segment generated Dhs30.5m in Q2 revenue, an 8 per cent increase year-on-year. Across the taxi and limousine business, DTC completed 13.6 million trips in the quarter, marking a 19 per cent jump over the same period last year.

The bus segment saw revenue decline by 12 per cent to Dhs31.3m due to changes in the revenue recognition cycle. The company clarified that the changes did not affect overall annual contract values.

Meanwhile, the delivery bike segment recorded the fastest growth, with revenue more than doubling year-on-year to Dhs18.2m, reflecting continued demand in the on-demand delivery space.

DTC’s total operational fleet rose 23 per cent year-on-year to 10,180 vehicles by the end of June.

Balance sheet and capital allocation

As of  June 30, DTC maintained a cash balance of Dhs236m, including Wakala deposits, and reported a net debt-to-EBITDA ratio of 1.2x, underscoring a strong financial position.

Strategic Initiatives

A key highlight of the quarter was the onboarding of over 6,000 taxis onto the Bolt e-hailing platform, as part of a broader digital strategy to transition 80 per cent of taxi trips in Dubai to e-booking.

DTC also launched 200 all-electric BYD SEAL taxis through its partnership with Al-Futtaim Electric Mobility, reinforcing its goal of full electrification by 2040 in line with the UAE’s Net Zero 2050 target.

DTC and Bolt further deepened collaboration through a tie-up with talabat, offering talabat pro users exclusive ride discounts to integrate lifestyle and transport services.

Chairman Abdul Muhsen Ibrahim Kalbat said the results reflected “continued strength in DTC’s operating model” and its alignment with Dubai’s dynamic infrastructure and population growth.

CEO Mansoor Alfalasi highlighted growing demand for smart mobility and described the Bolt partnership as a key step toward building the UAE’s largest e-hailing ecosystem.

DTC expects growth to remain robust across all segments, supported by rising tourism, infrastructure investment, and its ongoing partnership with Dubai Airports.