This figure represents a 5% increase compared to the same period last year, based on the financial results disclosed today.

In the first quarter, DTC completed a staggering 13 million trips across its taxi and limousine services, which translates to an 8% growth from the previous year.

The rise in revenue can largely be attributed to the expansion of its fleet and a robust performance in its taxi and delivery bike operations.

Taxicab Growth and Operational Efficiency

When examining its performance excluding the Connectech subsidiary, which includes Bolt's e-hailing services, revenue growth reached 7% on a like-for-like basis.

Even with an increase in revenue, the company's EBITDA fell by 9% to AED 154 million, while net profit saw a 23% decline to AED 84 million. This downturn was primarily due to promotional discounts implemented during the launch campaign for Bolt. On a like-for-like basis, EBITDA grew by 4%, and net profit experienced a modest decline of 2%.

Mansoor Rahma Alfalasi, CEO of DTC, commented, "DTC delivered a solid start to the year, with strong growth across our core taxi and delivery bike segments reflecting ongoing momentum in Dubai’s mobility landscape. Our fleet expansion and investments in operational efficiency have enabled us to meet the rising demand driven by population and tourism growth in the city."

In the first quarter alone, DTC added 250 fully electric taxis, which brought its operational fleet total to more than 6,200 vehicles. Impressively, over 86% of the fleet now comprises hybrid or electric vehicles, in line with Dubai’s 2040 Urban Master Plan.

"We remain confident in our business's fundamentals, supported by a strong balance sheet and a scalable platform primed for growth," added Alfalasi. "In the future, we will continue to optimize our operations, enhance customer experiences, and seize opportunities within Dubai’s rapidly evolving mobility ecosystem."

Strategic Partnerships and Future Plans

Additionally, DTC has forged a five-year strategic partnership with Dubai Airports, aiming to be the exclusive provider of taxi services at both Dubai International (DXB) and Dubai World Central – Al Maktoum International (DWC). The partnership is anticipated to generate revenues of AED 2.5 billion over the term, with taxi and limousine trips from the airports projected to exceed 8 million by 2029.

Furthermore, DTC's partnership with Bolt completed its first full quarter of operations, resulting in 279,000 app downloads and onboarding 267 fleet partners, with 14,600 cars registered on the platform.

In April 2025, shareholders approved a final dividend of AED 122.3 million for the second half of 2024, equating to 4.89 fils per share. DTC maintains a sound financial status with a net debt-to-EBITDA ratio of 1.2x and a cash balance of AED 287 million as of March 31, 2025.

Dubai Taxi Company Reports $160 Million Revenue in Q1 2025

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