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Dubai Taxi profit falls after March slowdown hits trips and airport demand

Gulf News: Latest UAE news, Dubai news, Business, travel news, Dubai Gold rate, prayer time, cinema·Nivetha Dayanand·25 days ago
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Dubai: Dubai Taxi Company reported lower first-quarter revenue and profit after regional uncertainty in March reduced trip volumes across its taxi and limousine businesses, interrupting a strong start to the year driven by fleet expansion and steady mobility demand. The company said revenue fell 6% year on year to Dh551.1 million in the three months to March 31, 2026, while EBITDA declined 22% to Dh120.7 million. Net profit dropped 39% to Dh50.7 million, with the margin falling to 9% from 14% a year earlier. The March drag followed a stronger January and February, when revenue rose 10% year on year, EBITDA increased 17% and net profit grew 25%. The contrast shows how quickly transport demand in Dubai can react when tourism flows, airport movements and working patterns change during periods of regional uncertainty. March disruption hits core trips Dubai Taxi’s main taxi business generated Dh455.3 million in revenue during the quarter, down 12% from a year earlier, mainly due to lower trip volumes in March.…

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