Full Year revenue up 11% to AED 1.95bn
Dubai Taxi Company recently announced its financial results for the year ended 31 December 2023.
Revenue for the year increased 11% year on year to AED 1.95bn, primarily driven by the strong performance of its Taxi segment as the number of trips increased during the period, supported by the strong growth of Dubai and DTC’s exclusivity agreements in high-volume areas of the city, including Dubai International Airport.
DTC’s fleet size at the end of 2023 was more than 7,400 vehicles, with its Taxis and Limousines completing 46mn trips in 2023, an increase of 8% year on year.
“Our strong inaugural set of results following our successful IPO on DFM in December 2023, highlights the strength of our business, which is underpinned by the growth of Dubai, our market leading position and a supportive regulatory environment.,” commented Abdul Muhsen Ibrahim Kalbat, Chairman, DTC.
“Following our successful IPO on the DFM, DTC delivered a good set of results with Revenue increasing 11% year-on-year to AED 1.95 billion in 2023, driving a 54% rise in net profit,” remarked Mansoor Rahma Alfalasi, CEO, DTC.
