584.4 million dirhams “Dubai Taxi” profits in 2024

The Dubai Taxi Company announced yesterday, a profit before benefits, taxes, consumption and firefight Transport services in the emirate.

The revenues witnessed a 12% increase compared to 2023 to reach 2.2 billion dirhams, driven by positive performance in all business sectors, as the taxi sector revenues increased by 12% to 1.92 billion dirhams, thanks to the increase in the number of trips and the expansion of the fleet size, as the sector «) recorded. Limousine »growth by 8% to 124.5 million dirhams, while the bus sector increased by 11% to 119.2 million dirhams, supported by adding new contracts.

The company stated that the total number of flights completed during the year amounted to 49 million trips, an increase of 6% compared to 2023, and the operating fleet was strengthened by adding 744 new vehicles, bringing the total to 5960 vehicles, while the market share of the company’s taxis increased to 47%.

The delivery bike sector witnessed strong growth, as revenues increased by 2.3 times compared to 2023, driven by expanding partnerships with delivery companies, while the company has strengthened its investments in environmentally friendly vehicles, bringing the percentage of hybrid and electrical vehicles to 85% of the total fleet.

Despite the strong operational performance, the net profit recorded a decrease of 4% to 331.3 million dirhams, as a result of the imposition of corporate tax in the Emirates and the high cost of interest, but the modified profits before the tax and benefits recorded 18% growth.

The Board of Directors of the “Dubai Taxi” recommended the distribution of final profits of 122.3 million dirhams for the second half of the year 2024, at 4.89 money per share, bringing the total annual distributions to 281.6 million dirhams, according to the policy of distributing 85% of the net profits, with the expectation of the distribution of final profits In April 2025 after the approval of the General Assembly.