Dubai Taxi Company (DTC) reported revenue of AED 1.77 billion and net profit of AED 118.3 million for the first nine months of 2026, compared with net profit of AED 265.4 million during the same period last year, as the company continued expanding its operations and developing its mobility services across the UAE.
The third quarter brought a gradual recovery in demand for transportation services and marked the first period in which DTC consolidated the financial results of National Taxi following the completion of its acquisition on July 8, 2026.
Reported revenue for the quarter rose 25.7% year over year to AED 735.5 million, up from AED 585.3 million in the third quarter of 2025. The increase came as the company expanded its operating base through the acquisition, while underlying passenger demand continued to improve gradually.
Sector Performance
Dubai Taxi Company and National Taxi completed a combined 18.5 million taxi and limousine trips during the third quarter of 2026. Of those, DTC accounted for 12.4 million trips on a standalone basis, while National Taxi completed 6.1 million.
Although trip volumes remained below the previous year’s levels, the figures showed a steady improvement as the quarter progressed. The year-over-year decline in DTC’s standalone trips narrowed from 7.8% in July to 6.2% in August before easing further to just 1.9% in September.
The taxi segment generated AED 643.4 million in reported revenue during the quarter, representing annual growth of 27.2%. Limousine services contributed AED 27 million, while the bus segment recorded AED 29.6 million, remaining broadly stable thanks to existing contracts and recurring services.
Airport-related journeys also showed a notable recovery. DTC completed 1.07 million airport trips in the third quarter, an increase of 40% compared with the second quarter of 2026, reflecting the recovery in passenger traffic through Dubai’s airports.
Fleet Expansion and Sustainable Mobility
DTC continued increasing its operating capacity during the period, with the combined fleet of Dubai Taxi Company and National Taxi reaching 15,388 vehicles as of September 30, 2026. The figure represented a 16.7% increase year over year, reflecting continued investment in long-term operating capacity and the expansion of the unified mobility platform.
As part of its phased fleet expansion plan, DTC brought 450 new taxi plates into service out of the 600 plates it had purchased. By the end of September, the combined operational taxi fleet had reached 9,344 vehicles.
The company’s taxi and limousine fleets also included 846 fully electric vehicles, reflecting its continued investment in sustainable transportation alongside the expansion of its wider mobility operations.
The additional vehicles and operating capacity form part of DTC’s ongoing efforts to develop its services and accommodate future demand across its transportation network.
Growth in Delivery and Digital Ride-Hailing Services
Delivery services remained among DTC’s fastest-growing business activities in the third quarter, with motorcycle delivery revenue increasing 75.2% year over year to AED 32.1 million.
The growth was supported by continued fleet expansion and sustained demand in the UAE’s growing on-demand delivery market, where the company has been increasing its operational presence.
Digital ride-hailing activity also continued to expand. The Bolt platform recorded 2.3 million trips during the quarter, up 52% from the same period in 2025, reflecting growing customer adoption and the platform’s expanding network.
Alongside these developments, DTC continued working on a multi-platform digital booking system while investing in technology and sustainable mobility solutions as part of its broader growth strategy.
Financial Performance
Dubai Taxi Company reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of AED 166.5 million in the third quarter of 2026, an increase of 10% compared with the same quarter last year.
Reported net profit for the quarter stood at AED 57.1 million, down 25.3% year over year, as higher depreciation and financing costs following the National Taxi acquisition outweighed the increase in EBITDA.
For the first nine months of 2026, DTC recorded EBITDA of AED 364.4 million, with a margin of 20.6%. Its reported net profit margin for the period stood at 6.7%.
The company’s performance reflected lower trip volumes, softer airport and tourism-related demand, higher fuel prices, and increased operating and financing costs. These pressures were partly offset by disciplined cost management, operational efficiency measures, and an AED 33.5 million reduction in monthly taxi fees granted by Dubai’s Roads and Transport Authority and recognized in the third-quarter results.
DTC also maintained a strong liquidity position, holding AED 425.6 million in cash and liquid investment assets as of September 30, 2026. This included AED 50.4 million in short-term National Bonds.
Net debt reached AED 2 billion, primarily reflecting the financing of the National Taxi acquisition.
Operational Resilience
Mansoor Rahma Al Falasi, Group Chief Executive Officer, said: “Dubai Taxi Company maintained the resilience of its operations during the third quarter of the year while continuing to make progress toward achieving its strategic priorities and growth agenda. Despite the decline in demand associated with airport traffic and tourism, and its continued impact on operational performance, mobility indicators showed a noticeable improvement during the period. September recorded a significant increase in the number of trips compared with July, bringing volumes closer to the levels recorded in the previous year. This improvement strengthens our confidence that demand will continue gradually returning to normal levels as we enter the fourth quarter of the year.”
Al Falasi added: “The integration of National Taxi’s operations is progressing faster than planned, and our primary focus is on aligning our operations, realizing further integration benefits, and strengthening the profitability of the unified platform. At the same time, we are working to expand our operating capacity in a measured manner, develop a multi-platform digital booking ecosystem, and invest in technology and sustainable mobility solutions to support the next phase of the company’s growth across the UAE.”
