Dubai Taxi Revenue Jumps 25.7% to AED 735.5 Million in Third Quarter

Key Facts

Dubai Taxi Company said third-quarter 2026 revenue rose 25.7% year on year to AED 735.5 million, while net profit fell 25.3% to AED 57.1 million. The company said higher depreciation and financing costs following the acquisition offset the increased contribution from adjusted EBITDA. The results show a widening gap between revenue growth and the amount that reached net profit during the period. Net profit margin was 7.8%, compared with 13.1% in the third quarter of 2025. No documented comparison is available for earnings per share or the company’s results against analyst estimates.

Adjusted EBITDA rose 10% to AED 166.5 million, but its margin fell to 22.6% from 25.9% a year earlier. The company attributed margin pressure to fewer trips and weaker demand from airports and tourism, as well as higher direct costs and fuel prices. Adjusted EBITDA therefore grew more slowly than quarterly revenue, which rose 25.7%. These figures highlight the effect of costs on operating profitability, while higher depreciation and financing costs added pressure on net profit. Revenue for the first nine months fell 1.5% to AED 1,771.1 million, from AED 1,798.8 million in the corresponding period.

Net profit for the first nine months fell to AED 118.3 million, compared with AED 265.4 million in the same period of 2025, a decline of 55.5%. That puts cumulative earnings below the path of revenue, which fell at a slower pace over the period. In the third quarter alone, revenue was AED 735.5 million, compared with AED 585.3 million a year earlier, while net profit was AED 57.1 million versus AED 76.4 million. The quarterly comparison shows revenue growth alongside a contraction in net profit, consistent with the depreciation, financing and margin pressures cited by the company. The nine-month figures show that third-quarter revenue growth did not prevent net profit from continuing to decline since the start of the year.

Independent taxi and limousine trips showed a gradual improvement during the quarter, although they remained below year-earlier levels. Trips fell 7.8% year on year in July, then 6.2% in August and 1.9% in September. The company said mobility demand improved gradually and that September approached year-earlier levels. The narrowing decline from month to month points to a recovery in demand during the period, but does not mean trips exceeded the previous year’s levels. Pressure on airport and tourism demand remained among the factors the company linked to quarterly performance.

At National Taxi, third-quarter revenue was AED 168 million, down 2.2% year on year. The company said the decline in trips was partly offset by higher average revenue per trip after fare adjustments during the period. Across the two entities, Dubai Taxi and National Taxi together completed 18.5 million trips in the quarter, and their combined operating fleet stood at 15,388 vehicles on September 30, 2026. The company also said it had completed about 30% of National Taxi’s integration, including key controls and operational alignment. It achieved integration savings of AED 3.9 million in the third quarter.

The company said its next priorities include completing National Taxi’s integration and delivering further savings, alongside regional expansion, growth in online bookings, fleet improvements and investment in technology. This places completion of the integration on its operational agenda after reaching about 30% completion and generating savings in the third quarter. The pace of trip recovery also remains an important factor, given that September approached but did not reach year-earlier levels, according to the company. The results did not specify a target date for completing the integration or the amount of additional savings sought. Depreciation, financing costs, direct costs and fuel prices remain factors affecting the margins the company recorded during the quarter.