Top 10 Profitable Startups in India
SUMMARY
India’s startup ecosystem has grown rapidly over the last decade. While many startups focus on scaling quickly with the help of investor funding, a growing number of companies have shown that profitability is just as important as growth. These startups have built sustainable business models, generated consistent revenue, and achieved profits while continuing to expand.
Profitable startups are attracting attention because they are less dependent on external funding and are better prepared to handle changing market conditions. They also set an example for new entrepreneurs who want to build long-term businesses rather than focusing only on rapid expansion.
In this article, we look at the top 10 profitable startups in India, their founders, business models, revenue sources, and the reasons behind their financial success.
Top 10 Profitable Startups in India – Quick Comparison
| Startup | Founded | Founder(s) | Headquarters | Industry | FY24 Status |
| Zerodha | 2010 | Nithin Kamath, Nikhil Kamath | Bengaluru | Stock Broking | Highly Profitable |
| Zoho | 1996 | Sridhar Vembu, Tony Thomas | Chennai | SaaS | Highly Profitable |
| Physics Wallah | 2020 | Alakh Pandey, Prateek Maheshwari | Noida | EdTech | Profitable |
| Mamaearth | 2016 | Varun Alagh, Ghazal Alagh | Gurugram | FMCG | Profitable |
| ixigo | 2007 | Aloke Bajpai, Rajnish Kumar | Gurugram | TravelTech | Profitable |
| CarTrade | 2009 | Vinay Sanghi | Mumbai | AutoTech | Profitable |
| Info Edge | 1995 | Sanjeev Bikhchandani | Noida | Internet Services | Consistently Profitable |
| Policy bazaar (PB Fintech) | 2008 | Yashish Dahiya, Alok Bansal, Avaneesh Nirjar | Gurugram | InsurTech | Profitable |
| EaseMy Trip | 2008 | Nishant Pitti, Rikant Pitti, Prashant Pitti | New Delhi | TravelTech | Profitable |
| Drone Acharya Aerial Innovations | 2017 | Prateek Srivastava | Pune | Drone Technology | Profitable |
1. Zerodha
Founded 2010
Founders Nithin Kamath, Nikhil Kamath
Headquarters Bengaluru
Industry FinTech
Main Products Kite, Coin, Varsity
Zerodha is one of India’s biggest startup success stories. Founded by brothers Nithin and Nikhil Kamath, the company changed stock trading by introducing a low-cost brokerage model. Instead of charging high commissions, Zerodha offers flat-fee trading, making investing affordable for millions of Indians.
The company earns revenue through brokerage charges, subscriptions, margin funding, and investment products. Unlike many startups, Zerodha has never raised venture capital funding. It has grown entirely through customer revenue, making it one of India’s largest bootstrapped startups.
Today, Zerodha serves millions of investors and continues to report impressive annual profits while expanding its financial services ecosystem.
2. Zoho
Founded 1996
Founders Sridhar Vembu, Tony Thomas
Headquarters Chennai
Industry SaaS
Main Products Zoho CRM, Zoho Books, Zoho One
Zoho is among India’s most successful software companies and serves customers in over 150 countries. Founded by Sridhar Vembu, the company provides cloud-based software for businesses, including accounting, HR, CRM, marketing, email, and collaboration tools.
Zoho follows a subscription-based business model, giving it predictable recurring revenue. It has remained privately owned and profitable for many years without depending heavily on external investors.
The company invests significantly in research, employee training, and rural development while maintaining healthy profit margins, making it one of India’s strongest SaaS companies.
3. PhysicsWallah
Founded 2020
Founders Alakh Pandey, Prateek Maheshwari
Headquarters Noida
Industry EdTech
Main Products NEET, JEE & UPSC Courses
PhysicsWallah started as a YouTube channel created by Alakh Pandey before becoming one of India’s fastest-growing EdTech companies. Its affordable pricing strategy helped millions of students prepare for competitive examinations.
Unlike several EdTech startups that struggled financially, PhysicsWallah focused on keeping costs under control while expanding both online and offline coaching centers.
Revenue comes from paid courses, books, offline coaching institutes, and test preparation programs. The company has consistently reported profits while continuing rapid expansion across India.
4. Mamaearth
Details Information
Founded 2016
Founders Varun Alagh, Ghazal Alagh
Headquarters Gurugram
Industry FMCG
Main Products Skincare, Haircare, Baby Care
Mamaearth entered India’s beauty and personal care market with toxin-free skincare and baby care products. The brand quickly gained popularity through digital marketing, influencer campaigns, and direct-to-consumer sales.
Today, Mamaearth sells products through its website, major e-commerce platforms, and thousands of retail stores across India.
Its diversified product portfolio and strong brand recognition have helped the company become profitable while continuing to launch new brands under its parent company, Honasa Consumer.
5. ixigo
Founded 2007
Founders Aloke Bajpai, Rajnish Kumar
Headquarters Gurugram
Industry Travel Technology
Main Products Flight, Train & Bus Booking
ixigo has become one of India’s leading travel platforms by helping users compare and book flights, trains, buses, and hotels.
The company generates revenue through booking commissions, convenience fees, travel partnerships, advertising, and premium services.
Its focus on railway bookings and AI-powered travel planning has helped it build a loyal customer base. After years of expansion, ixigo achieved profitability and strengthened its market position before its successful public listing.
6. CarTrade
Details Information
Founded 2009
Founder Vinay Sanghi
Headquarters Mumbai
Industry AutoTech
Main Products Used Car Marketplace, Auctions
CarTrade operates one of India’s largest online automobile marketplaces. The platform connects buyers, sellers, dealers, banks, and insurance companies through digital services.
The company earns revenue from dealer subscriptions, online auctions, vehicle listings, financing partnerships, and advertising.
Its asset-light business model has allowed CarTrade to remain profitable while expanding into multiple automotive services, making it one of India’s strongest AutoTech startups.
7. Info Edge
Details Information
Founded 1995
Founder Sanjeev Bikhchandani
Headquarters Noida
Industry Internet Services
Main Products Naukri.com, 99acres, Jeevansathi
Info Edge is one of India’s oldest internet companies and has remained profitable for decades. It operates leading digital platforms across recruitment, real estate, education, and matrimony.
The company generates revenue mainly through premium recruitment services, advertisements, subscriptions, and enterprise solutions.
Apart from running profitable businesses, Info Edge has also invested early in successful startups such as Zomato and Policybazaar, further strengthening its financial position.
8. Policybazaar (PB Fintech)
Details Information
Founded 2008
Founders Yashish Dahiya, Alok Bansal, Avaneesh Nirjar
Headquarters Gurugram
Industry InsurTech
Main Products Insurance & Financial Products
Policybazaar transformed insurance buying in India by allowing users to compare policies from multiple insurers on a single platform.
The company earns commissions from insurance providers and financial institutions whenever customers purchase policies or financial products through its platform.
After years of investing in technology and customer acquisition, PB Fintech achieved profitability while continuing to expand into lending, healthcare, and financial advisory services.
9. EaseMyTrip
Details Information
Founded 2008
Founders Nishant Pitti, Rikant Pitti, Prashant Pitti
Headquarters New Delhi
Industry Travel Technology
Main Products Flight, Hotel & Holiday Booking
EaseMyTrip has built a profitable travel business by offering competitive prices and maintaining a lean operating structure.
Unlike several competitors, the company reduced customer acquisition costs by relying heavily on repeat customers and direct bookings.
Revenue comes from airline commissions, hotel bookings, holiday packages, convenience fees, and travel services. Its consistent profitability has made it one of India’s most successful listed travel startups.
10. DroneAcharya Aerial Innovations
Details Information
Founded 2017
Founder Prateek Srivastava
Headquarters Pune
Industry Drone Technology
Main Products Drone Training, Surveying, GIS Services
DroneAcharya Aerial Innovations operates in India’s rapidly growing drone industry. The company provides drone pilot training, aerial surveying, GIS mapping, inspections, and consulting services.
Demand has increased due to government initiatives promoting drone technology across agriculture, infrastructure, mining, and logistics.
Its diversified revenue streams and growing enterprise customer base have helped the startup achieve profitability while expanding into new markets.
What Makes These Startups Profitable?
Several common factors have contributed to the success of these companies:
- Strong and sustainable business models.
- Focus on recurring revenue through subscriptions or repeat customers.
- Controlled operating expenses and efficient cost management.
- Customer-first products with high retention rates.
- Technology-driven operations that improve scalability.
- Diversified revenue sources instead of relying on a single product.
- Long-term growth strategies rather than prioritizing valuation alone.
These practices have allowed the companies to remain financially stable even during periods of economic uncertainty.
Why Profitability Matters for Startups
For many years, startups were primarily judged by their funding rounds and valuations. Today, investors increasingly value companies that can generate sustainable profits.
Profitable startups enjoy several advantages:
- Better financial stability.
- Lower dependence on external funding.
- Greater investor confidence.
- More flexibility for expansion.
- Stronger resilience during market slowdowns.
- Higher long-term business value.
As India’s startup ecosystem matures, profitability is becoming an important indicator of business quality.
Conclusion
India’s startup ecosystem is entering a new phase where profitability is becoming as important as growth. Companies like Zerodha, Zoho, PhysicsWallah, Mamaearth, ixigo, CarTrade, Info Edge, Policybazaar, EaseMyTrip, and DroneAcharya have demonstrated that startups can build successful businesses while maintaining healthy financial performance.
These companies continue to innovate, create employment, and contribute significantly to India’s digital economy. Their journeys prove that sustainable business models, customer trust, and disciplined financial management remain the foundation of long-term startup success.
Frequently Asked Questions (FAQs)
Which is the most profitable startup in India?
Zerodha is widely regarded as one of India’s most profitable startups due to its consistently high profits and bootstrapped business model.
Which Indian startup has never raised funding?
Zerodha and Zoho are among the most well-known Indian startups that have grown without relying heavily on venture capital funding.
What makes a startup profitable?
A startup becomes profitable when its total revenue exceeds its operating expenses, taxes, and other business costs.
Is PhysicsWallah a profitable startup?
Yes. PhysicsWallah has reported profitability while expanding its online and offline education business.
Why are investors focusing more on profitable startups?
Profitable startups are considered financially stronger, more sustainable, and less dependent on continuous fundraising.
Which sectors have the most profitable startups in India?
FinTech, SaaS, TravelTech, FMCG, Internet Services, EdTech, and InsurTech currently have several profitable startups.
Is Zoho still privately owned?
Yes. Zoho remains a privately owned software company and has been consistently profitable for many years.
Are profitable startups better than unicorns?
Not necessarily. A unicorn is valued at over $1 billion, while profitability measures financial performance. Some startups achieve both.
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