DTC delivers strong Q2 performance with net profit growth of 33 per cent

Gulf Today

29-07-2025

Dubai Taxi Company (DTC or the 'Company'), a leading provider of comprehensive mobility solutions in Dubai, on Tuesday announced its financial results for the three months 'Q2 2025' or the 'Quarter') and six months ended 30 June 2025 ('H1 2025' or the 'Period').
DTC delivered strong financial performance during Q2 of 2025 with revenue growing 18 per cent year-on-year to Dhs625.2 million driven by fleet expansion and higher number of trips. For H1 2025, revenue increased by 11 per cent year-on-year to Dhs1.2 billion reflecting sustained momentum throughout the first half of the year.
DTC's taxi segment revenue in Q2 2025 increased by 18 per cent year-on-year to Dhs539.7 million, driven by fleet expansion while maintaining strong utilisation levels​ As of June 2025, the total operational taxi fleet reached 6,210 vehicles, including 335 fully electric vehicles as part of the Company's ongoing transition to a more sustainable offering.
The limousine segment saw revenue increase by 8 per cent year-on-year to 30.5 million in Q2 2025, supported by the expansion of its fleet. The Company's taxis and limousines segment completed 13.6 million trips during Q2 2025, up 19 per cent year-on-year.
As of June 2025, DTC's total operational fleet across all segments increased by 23 per cent to 10,180. DTC's bus segment revenue stood at Dhs31.3 million for Q2 2025, a 12 per cent decrease year-on-year, due to contractual changes that altered the revenue recognition cycle during the period. These changes do not have any impact on the overall annual contract values.
The Company's delivery bike segment recorded strong revenue growth in Q2 2025, increasing by 102 per cent year-on-year to Dhs18.2 million, supported by continued expansion in the fast-growing on-demand delivery market.
The Company's EBITDA increased 30 per cent year-on-year to Dhs180.6 million in Q2 2025 driven by a significant increase in trips and revenue, alongside a lower promotional impact from Connectech (DTC's subsidiary including Bolt e-hailing operations), which was more heavily weighted toward the first quarter as anticipated.
The EBITDA margin in the second quarter was up 3 percentage points at 29 per cent, whilst remaining robust at 28 per cent for the first half, as DTC remained focused on driving operational efficiencies.
Net profit in Q2 2025 increased by 33 per cent year-on-year to Dhs105.4 million, representing a net profit margin of 17 per cent, supported by the strong rise in operating profit.
DTC maintains a healthy balance sheet, with a highly attractive net debt-to-EBITDA ratio of 1.2x and a cash balance of Dhs236 million as of 30 June 2025, including Wakala deposits.
Commenting on the Company's results, DTC's Chairman, Abdul Muhsen Ibrahim Kalbat, said: 'Our results reflect the continued strength of our operating model and our ability to deliver value through consistent execution and customer-focused innovation. We are proud to operate in a market as dynamic and forward-looking as Dubai and the wider UAE, where strong population growth, record infrastructure investment, and robust economic indicators continue to support long-term demand for smart mobility solutions, and we are well-positioned to capitalise on these positive trends. I am also pleased to confirm that the Board approved a dividend payout for the first half of the year, in line with our highly attractive policy to distribute at least 85 per cent of annual net profit.'
DTC's CEO, Mansoor Rahma Alfalasi, added: 'Our performance in the second quarter and first half of 2025 underscores our disciplined execution and sustained operational progress. We continue to see strong momentum across our core segments, driven by expanding fleet capabilities and increasing demand for smart, customer-centric mobility solutions. A major highlight of the period has been the deepening of our strategic partnership with Bolt, marked by the onboarding of over 6,000 taxis to the Bolt platform. This milestone represents a significant step forward in our ambition to build the UAE's largest e-hailing ecosystem. It exemplifies our commitment to creating integrated, digital-first mobility solutions that elevate everyday convenience and reshape the customer experience. Additionally, our alliance with Al-Futtaim Electric Mobility reinforces our long-term commitment to sustainability as we advance towards a fully electric fleet by 2040.'
'Our business is underpinned by strong fundamentals, a solid financial position, and a platform built for sustainable growth. As we look to the future, our focus remains on driving operational excellence, elevating the customer journey, and unlocking new opportunities within Dubai's and the UAE's dynamic and fast-growing mobility landscape.' DTC's Board of Directors has approved dividends of Dhs160.7 million, amounting to 6.43 fils per share for H1 2025, in line with the Company's dividend policy of targeting dividend distribution of at least 85 per cent of annual net profit, distributed semi-annually.