Dubai Taxi revenue falls as war dents March performance

Dubai Taxi Company (DTC) said its revenues dropped in March as the regional conflict reduced tourist inflows, affecting its activity.

The top line declined 6 percent year on year to AED551 million ($150 million) in the three-month period ending March 31, 2026.

Revenue increased 10 percent annually for the combined months of January and February, supported by fleet expansion and sustained demand.

The taxi segment’s revenue fell 12 percent year on year to AED455 million, primarily due to lower trip volumes in March, the company said in a statement to the Dubai Financial Market (DFM).

As of March 2026, DTC’s operational taxi fleet reached 6,217 vehicles, including 594 fully electric vehicles.

Revenue from the limousine segment reached AED29 million, down 15 percent year on year, largely due to reduced airport operations. However, the bus segment increased 7 percent annually to AED34 million.

Total trips reached 11 million in the quarter, down 14 percent year on year.

Net profit fell 39 percent year on year to AED51 million despite a 25 percent jump in the combined January and February bottom line.

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“In March, our business was impacted by the increased regional uncertainty, which saw a reduction in tourist inflows and a move to remote working and learning,” said group CEO Mansoor Alfalasi.

He said that the company remained fully operational across all of its business verticals in March and remains confident of delivering growth supported by the emirate’s resilient economy.

The company’s cash balance stood at AED358 million at the end of the quarter.

DTC, 75 percent-owned by state-backed Dubai Investment Fund, paid total dividends of AED303 million, a 7.5 percent increase compared to 2024.

Its share price closed 1.9 percent lower at AED2.02 on Thursday, and has fallen 18 percent year to date on the DFM.