Dubai Taxi Company (DTC), a prominent entity in Dubai’s mobility sector, has reported an impressive 13% year-on-year revenue increase, reaching Dh1.6 billion in the first nine months of 2024. This rise, alongside a record 36 million trips through its taxi and limousine services, underscores DTC’s growing role in Dubai’s transport industry. The surge aligns with Dubai’s vision for innovative and accessible transit solutions, reinforcing DTC’s market position and dedication to supporting the city’s expanding population.
Revenue and Expansion Strategy
DTC’s financial results for 2024 reflect a proactive growth approach, with profit before tax and interest expenses increasing by 19% to Dh319.3 million. Although net profit saw a 7% decline due to the newly introduced UAE corporate tax and higher interest expenses, the company recorded a strong 20% year-on-year increase in EBITDA to Dh432.2 million. Additionally, DTC added 444 vehicles to its fleet, bringing the total to 5,660 taxis, ensuring sufficient capacity to meet demand across Dubai’s bustling cityscape.
In response to rising demand for efficient transport solutions, DTC has also secured 300 new taxi licenses, expanding its market share to 46% by the end of September. A 5% rise in the number of trips from the previous year further highlights the growth of Dubai’s taxi sector in 2024.
Rising Demand and Strategic Alliances
DTC’s CEO, Mansoor Rahma Alfalasi, highlighted the significance of strategic partnerships in elevating DTC’s service quality and accessibility. A recent collaboration with Bolt has introduced advanced technology to DTC’s fleet, offering enhanced user options for both residents and tourists. With Dubai’s population and tourism sector expected to grow steadily, industry experts anticipate ongoing demand for reliable and accessible transportation across the city.
As DTC paves the way in Dubai’s taxi sector, other companies may seek to replicate its approach, focusing on fleet expansion and technology integration. This growth model could support a more robust public transportation network, benefiting residents and the city’s tourism industry alike.
