Dubai Taxi Company net profit falls 25.3% to Dh57.1 million in Q3 on higher financing costs and weaker demand

Résumé détaillé

Revenue rises 25.7% to Dh735.5 million following National Taxi acquisition, while higher financing costs and softer demand weigh on earnings.

Dubai Taxi Company reported a 25.3 per cent year-on-year decline in net profit to Dh57.1 million in the third quarter of 2026, despite a 25.7 per cent increase in revenue to Dh735.5 million, as higher financing costs and weaker demand weighed on profitability.

The Dubai-listed mobility operator said the rise in revenue was mainly supported by the consolidation of National Taxi’s financial results following the completion of its acquisition on July 8.

Earnings before interest, taxes, depreciation and amortisation increased 10 per cent to Dh166.5 million, while the Ebitda margin narrowed to 22.6 per cent from 25.9 per cent a year earlier.

For the first nine months of 2026, DTC’s net profit declined 55.5 per cent to Dh118.3 million, compared with Dh265.4 million in the same period last year. Revenue fell 1.5 per cent to Dh1.77 billion.

DTC and National Taxi completed a combined 18.5 million taxi and limousine trips during the third quarter.

Excluding National Taxi, DTC recorded 12.4 million trips, a decline of 5.3 per cent year-on-year. However, the rate of decline narrowed from 7.8 per cent in July to 1.9 per cent in September, reflecting a gradual recovery in demand.

The company said weaker airport- and tourism-related demand continued to affect its underlying performance.

Taxi segment revenue increased 27.2 per cent to Dh643.4 million, mainly supported by National Taxi’s contribution, while like-for-like taxi revenue declined 6 per cent.

Meanwhile, delivery bike revenue jumped 75.2 per cent to Dh32.1 million, supported by fleet expansion and demand for delivery services.

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