08/05/2026 06:17 AST
Dubai Taxi Company's (DTC) net profit declined 39 per cent to Dh50.7 million in the first quarter of 2026 despite strong performance in January and February.
The company said its performance was impacted by lower trip volumes in March due to heightened regional uncertainty. For January and February 2026, net profit increased 25 per cent year-on-year, supported by continued growth in operating profit.
The Dubai-listed company said performance in January and February remained robust, supported by continued fleet expansion and sustained demand for the company's smart, sustainable mobility solutions. In March, however, heightened regional uncertainty weighed on performance, particularly across taxi and limousine activity, resulting in lower trip volumes during the month.
"DTC delivered a resilient performance in the first quarter, building on the strong momentum achieved in 2025. We continued to expand our fleet, invest in digital capabilities and drive efficiencies through ongoing optimisation initiatives. Demand in January and February remained robust across our core segments, with positive revenue and EBITDA growth, reflecting the strength of our market position and the structural drivers underpinning our growth strategy.
"In March, our business was impacted by the increased regional uncertainty, which saw a reduction in tourist inflows and a shift to remote working and learning. Throughout this period, we remained fully operational, and we continued to serve customers in the UAE across all our business verticals," said DTC Group CEO Mansoor Rahma Alfalasi.
Revenues
The company's revenue in Q1 2026 declined 6 per cent year-on-year to Dh551.1 million. For January and February 2026, revenue increased 10 per cent year-on-year, reflecting sustained momentum and continued structural demand for mobility services.
DTC's taxi segment recorded revenue of Dh455.3 million in Q1 2026, down 12 per cent year-on-year, primarily due to lower trip volumes in March.
For January and February 2026, taxi revenue increased 5 per cent year-on-year, supported by continued fleet expansion while maintaining strong utilisation levels.
As of March 2026, DTC's operational taxi fleet stood at 6,217 vehicles, including 594 fully electric vehicles.
The limousine segment recorded revenue of Dh29.2 million in Q1 2026, down 15 per cent year-on-year, largely due to reduced airport operations, while the bus segment increased 7 per cent year-on-year to Dh33.7 million.
For January and February 2026, limousine revenue declined 9 per cent year-on-year, primarily driven by usual seasonality effects, while the bus segment grew 1 per cent year-on-year.
The delivery bike segment sustained its strong momentum, delivering revenue growth of 61 per cent year-on-year to Dh26.6 million in Q1 2026, supported by continued expansion in the resilient and fast-growing on-demand delivery market. For January and February 2026, delivery bike revenue increased 74 per cent year-on-year.
Across the taxi and limousine segments, DTC completed 11 million trips in Q1 2026, down 14 per cent year-on-year.
Total fleet size
As of March 2026, DTC's total operational fleet across all segments increased 16 per cent year-on-year to 11,417 vehicles.
DTC's EBITDA declined 22 per cent year-on-year to Dh120.7 million in Q1 2026, reflecting the impact of the current regional situation on taxi and limousine trip volumes in March.
For January and February 2026, EBITDA increased 17 per cent year-on-year on a higher revenue base, supported by continued growth in trip volumes across business segments. EBITDA margin for the quarter was 22 per cent, compared with 26 per cent in Q1 2025.
For January and February 2026, EBITDA margin remained at 26 per cent, with continued implementation of operational efficiencies partially offset by ongoing promotional investments in Connectech.
DTC said it continues to monitor the regional environment closely but remains well positioned to deliver continued growth, supported by Dubai's resilient macroeconomic fundamentals, strong population and tourism growth, and record investments in transport infrastructure.
Khaleej Times
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