Dubai Taxi Company reported Q3 revenue of AED 735.5 million on the National Taxi deal, while net profit fell 25.3% to AED 57.1 million.
Dubai Taxi Company PJSC (DTC) reported third-quarter revenue of AED 735.5 million, up 25.7% from AED 585.3 million a year earlier, while net profit fell 25.3% to AED 57.1 million, the company said on Monday.
The revenue rise reflects the consolidation of National Taxi from July 8, 2026. On a like-for-like basis, which compares DTC on its own in both periods, taxi revenue declined 6.0%, which the company linked to lower airport and tourism-related demand.
Reported EBITDA rose 10.0% to AED 166.5 million, but the margin eased to 22.6% from 25.9% in the third quarter of 2025.
Like-for-like EBITDA declined 14.4%. The company cited efficiencies and an AED 33.5 million reduction in monthly vehicle fees granted by Dubai’s Roads and Transport Authority (RTA), recognised in the quarter.
Net profit margin was 7.8%, against 13.1% a year earlier. The company said higher depreciation and financing costs after the National Taxi acquisition more than offset the higher EBITDA. Like-for-like net profit fell 49.4%.
For the nine months to September 30, reported revenue was AED 1.77 billion, down 1.5%. Reported EBITDA was AED 364.4 million and net profit AED 118.3 million.
DTC on its own completed 12.4 million taxi and limousine trips in the quarter, a like-for-like fall of 5.3%. The year-on-year decline narrowed month by month: 7.8% in July, 6.2% in August and 1.9% in September.
National Taxi completed 6.1 million trips, down 5.2%, bringing the combined total to 18.5 million. DTC airport trips reached 1.07 million, up 40% on the second quarter.
Bolt, the e-hailing platform DTC operates, delivered 2.3 million trips, up 52%. Delivery bike revenue rose 75.2% to AED 32.1 million. Limousine revenue fell 2.8% to AED 27.0 million, and bus revenue was AED 29.6 million, broadly stable.
The total operational fleet across DTC and National Taxi stood at 15,388 vehicles at September 30, up 16.7%. The combined taxi fleet was 9,344 vehicles, including 846 fully electric vehicles across taxi and limousine fleets.
Of 600 newly acquired Dubai taxi plates, 450 were operational by the end of the quarter.
Net debt rose to AED 2.0 billion, equal to 3.8 times net debt to last-twelve-month EBITDA, which includes National Taxi only from July 8. The company said this mainly reflects financing for the acquisition. Cash and liquid investments were AED 425.6 million.
Integration of National Taxi was about 30% complete, with AED 3.9 million of synergies realised in the quarter, ahead of initial expectations, the company said.
National Taxi’s own quarterly revenue was AED 168.0 million, down 2.2%, and its net profit was AED 16.9 million.
On October 28, DTC, National Taxi and Hala, the joint venture between the RTA and Careem, announced a five-year renewal of their agreement.
Under it, DTC and National Taxi will together make more than 7,700 taxis, excluding the airport fleet, available for booking through Hala on the Careem app. Nearly 120 million trips have been booked through Hala since the partnership began in 2019.
The renewal references the RTA directive to move 80% of taxi trips to e-booking by 2030.
On the outlook, DTC said mobility activity improved progressively through the quarter, with standalone taxi and limousine trip trends improving.
