Dubai Taxi Company Reports 90% Profit Drop in Q2

Jul 24, 2026

71 min

Jul 24, 2026 05:31

Dubai Taxi Company Q2 profit falls 90% as airport and tourism demand weakens

## Profit Decline Amid Weak Demand

Dubai Taxi Company experienced a significant 90% drop in profits during the second quarter of 2026. This decline was primarily due to reduced demand from airports and the tourism sector, which are key areas for the company.

## Signs of Recovery in June

Despite the challenging quarter, there were signs of recovery in June. The decline in taxi trips year-on-year improved from 36.7% in April to 11.2% by June. This improvement was attributed to a gradual increase in trip volumes, which rose by 31% from April to June.

## Financial Performance

Revenue for the quarter fell by 22.5% to Dh484.5 million compared to the same period in 2025. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) also decreased by 57.2% to Dh77.2 million. Net profit for the quarter was Dh10.4 million, a sharp decline from Dh105.4 million the previous year.

## Fleet and Expansion

Dubai Taxi Company continued to expand its fleet, which now includes over 11,000 vehicles. The company also acquired additional taxi licenses and expanded its services into Ajman and Abu Dhabi. The acquisition of National Taxi post-reporting period increased its market share significantly.

## Future Outlook

The company remains optimistic about long-term growth, supported by ongoing urbanization and infrastructure investments in Dubai. The board will decide on any shareholder dividends at the end of the year, allowing for more flexibility in financial planning.

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