Dubai Taxi Company PJSC (DTC), a leading provider of mobility solutions in Dubai, has reported a remarkable 33% increase in net profit for the second quarter of 2025, reaching AED 105.4 million. This impressive growth is attributed to the company's strategic fleet expansion and its integration with the Bolt platform, which has significantly increased its operational capacity and market reach.

During Q2 2025, DTC completed 13.6 million trips across its taxi and limousine segments, marking a 19% year-on-year increase. The company's revenue for the quarter rose by 18% to AED 625.2 million, driven by the addition of over 6,000 taxis to the Bolt platform, including 700 airport taxis. This move positions DTC as a major player in the UAE's e-hailing market, enhancing its competitive edge.

DTC's taxi segment alone saw an 18% increase in revenue, reaching AED 539.7 million. This was achieved while maintaining strong utilization levels, with the operational taxi fleet expanding to 6,210 vehicles, including 335 fully electric vehicles. This shift towards sustainability reflects DTC's commitment to reducing its carbon footprint and aligning with global environmental standards.

However, not all segments experienced growth. The bus segment reported a 12% decrease in revenue, attributed to contractual changes affecting the revenue recognition cycle. Despite this, the overall annual contract values remain unaffected, indicating a stable long-term outlook for this segment.

Looking ahead, DTC's strategic initiatives, such as its partnership with Bolt and the transition to electric vehicles, are expected to sustain its growth trajectory. The company's board has approved dividends of AED 160.7 million for H1 2025, reflecting confidence in its financial stability and future prospects.

Given the company's robust financial performance and strategic positioning in the market, a hold recommendation is suggested for investors. While the growth is promising, monitoring the company's adaptation to market changes and its long-term sustainability strategies will be crucial.