India’s startup ecosystem has grown tremendously over the past decade. With a thriving entrepreneurial culture, increasing digitization, and robust investor support, several Indian startups have emerged as highly profitable ventures—not just surviving but thriving in a competitive market. These startups aren’t just unicorns in valuation; they are generating consistent revenue, reducing cash burn, and even turning a profit. In this article, we explore the top 10 profitable startups in India as of 2025. Whether you’re an investor, an entrepreneur, or simply a startup enthusiast, these companies are worth watching.
Profitable Startups in India
In this article, we will highlight the top 10 startups that are making waves in the Indian market
Zerodha
Industry: Fintech
Founded: 2010
Headquarters: Bengaluru
Zerodha revolutionized the Indian stockbroking industry with its discount brokerage model. Unlike many fintech startups chasing funding, Zerodha bootstrapped its way to success. By focusing on low-cost trading, transparency, and user-friendly platforms, it became India’s largest stockbroker by active users.
Why It’s Profitable:
- No advertising budget
- Low operational cost
- High user retention
Zoho Corporation
Industry: SaaS (Software as a Service)
Founded: 1996
Headquarters: Chennai
Zoho Corporation is one of India’s biggest bootstrapped success stories. It offers a wide range of SaaS tools for CRM, productivity, and business management. With over 80 million users worldwide, Zoho has consistently reported profits without any external funding.
Why It’s Profitable:
- Global clientele
- Subscription-based revenue
- Zero dependency on venture capital
Mamaearth
Industry: D2C, Personal Care
Founded: 2016
Headquarters: Gurugram
Mamaearth, by Honasa Consumer Ltd., is a D2C beauty and wellness brand that has carved a niche by offering toxin-free, natural products. The brand reached profitability quickly by capitalizing on the digital-first consumer and building strong influencer-driven marketing.
Why It’s Profitable:
- High-margin beauty products
- D2C model with strong online sales
- Brand loyalty and repeat customers
Boat Lifestyle
Industry: Consumer Electronics
Founded: 2016
Headquarters: Delhi
Boat lifestyle is India’s leading audio electronics brand, known for stylish and affordable headphones, earbuds, and speakers. It grew rapidly through e-commerce platforms and social media marketing while maintaining lean operations.
Why It’s Profitable:
- Low-cost manufacturing (outsourced)
- Strong online distribution
- Excellent brand positioning
PhysicsWallah (PW)
Industry: EdTech
Founded: 2020
Headquarters: Noida
PhysicsWallah started as a YouTube channel and has evolved into a full-fledged edtech company. Despite entering a crowded space, PW became profitable by targeting tier-2 and tier-3 students with affordable courses and minimal infrastructure costs.
Why It’s Profitable:
- Affordable fee structure
- High course volume and scale
- Lean operations and low marketing costs
Nykaa
Industry: Beauty & E-commerce
Founded: 2012
Headquarters: Mumbai
Nykaa is one of the few Indian unicorns that reached profitability before going public. As a multi-brand beauty and personal care platform, Nykaa combines retail stores, online presence, and private labels to create a robust revenue model.
Why It’s Profitable:
- Private label products with higher margins
- Omnichannel retail strategy
- Focus on profitable growth over GMV
Razorpay
Industry: Fintech & Payments
Founded: 2014
Headquarters: Bengaluru
Razorpay has become a leading payment gateway solution for Indian businesses. It diversified into lending, payroll, and banking services for SMEs, making it one of the most comprehensive fintech platforms in India.
Why It’s Profitable:
- Diversified product lines
- Strong B2B client base
- High transaction volume
Delhivery
Industry: Logistics & Supply Chain
Founded: 2011
Headquarters: Gurugram
Delhivery, one of India’s biggest logistics players, turned the corner to profitability after years of high investment. It focuses on e-commerce shipping, freight, and warehousing services across the country.
Why It’s Profitable:
- Scale-driven logistics network
- Focus on operational efficiency
- Strong partnerships with e-commerce giants
Lenskart
Industry: Eyewear Retail
Founded: 2010
Headquarters: Gurugram
Lenskart digitized the eyewear industry in India by offering home eye check-ups, virtual try-ons, and affordable prescription glasses. With a hybrid model of online and offline retail, it has scaled profitably across India and beyond.
Why It’s Profitable:
- High-margin product line
- In-house manufacturing
- Global expansion and brand recall
Freshworks
Industry: SaaS
Founded: 2010
Headquarters: Chennai
Freshworks, listed on the NASDAQ, is among India’s most successful global SaaS startups. It offers cloud-based customer engagement software and has consistently reported strong revenue and profit growth.
Why It’s Profitable:
- Global customer base
- Scalable SaaS subscription model
- Focused R&D and innovation
What Makes These Startups Profitable?
Here are a few common threads among India’s most profitable startups:
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Bootstrapping or capital-efficient growth
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Sustainable business models with recurring revenue
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Focus on tier-2/tier-3 markets and affordability
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Operational efficiency over vanity metrics
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Customer-centric innovation
Final Thoughts
India’s startup story is no longer just about unicorn valuations and rapid user growth. The real winners in the ecosystem are startups that have built sustainable, profitable models. These 10 startups stand out not just for their innovation but for their ability to generate revenue and deliver long-term value. As we move further into 2025, profitability is becoming a key marker of success for Indian startups. Whether you’re an entrepreneur, investor, or aspiring founder, these examples offer valuable insights into what it takes to build a startup that lasts.
