India’s startup scene boasts over a hundred unicorns, yet what’s truly exceptional is finding those turning a profit. While many of the top-valued startups face losses, a handful stand out as profitable. According to Entrackr’s study, these are India’s highest profit-making startup unicorns.
Profit: Rs. 2,749 crore
Zoho, based in Chennai, stands out as India’s top-profit earner among startups, securing a remarkable Rs. 2,749 crore in profit last year. What makes this achievement even more unique is that Zoho, from its beginning, has chosen the independent path without external funding. Led by founder Sridhar Vembu, who operates from a village in Tamil Nadu, Zoho is not just a profit powerhouse but also a pioneer in unconventional business practices. Looking forward, Zoho plans to expand its reach to 100 rural districts across India, adding another layer to its distinctive approach.
Profit: Rs. 2,094 crore
Claiming the second spot among India’s high-profit startups is Zerodha, raking in an impressive Rs. 2,094 crore in profit last year. Much like Zoho, Zerodha boasts a bootstrap journey, steering clear of external investments. What sets it apart? Zerodha proudly wears the title of India’s largest stockbroker, outshining big names like ICICI, HDFC, and SBI. Breaking away from the norm, Zerodha’s business approach skips traditional marketing spends—letting its product do the talking. Digging deeper, its unique workplace culture shines through with a compact tech team of around 30 individuals, where only two have left in the last decade. To top it off, Zerodha even encourages employee wellness by rewarding bonuses for shedding weight.
Profit: Rs. 442 crore
Mu Sigma, a trailblazer in India’s unicorn landscape for over a decade, has not just etched its name in history but continues to chart an extraordinary path. Amidst the silence, it thrives, quietly accumulating significant profits. Its expertise lies in providing top-notch data analytics services to global giants, proudly boasting a clientele that includes 140 Fortune 500 companies. Mu Sigma’s journey goes beyond the usual unicorn narrative—it’s not just about reaching the milestone, but about sustaining relevance. In a standout performance, Mu Sigma secures its place as India’s third-highest profit-making startup, proudly recording a profit of Rs. 442 crore in the previous year.
Profit: Rs. 365 crore
CitiusTech may not be in the headlines often, but it’s quietly become India’s fourth-highest profit-making startup. Founded in 2005 by IIT Bombay graduates Rizwan Koita, Jagdish Moorjani, and Bimal R. Naik, the company offers services like data management, consulting, digital engineering, and artificial intelligence for health and healthcare companies. Last year, it secured a profit of Rs. 365 crore, showcasing its steady and impactful growth in the background.
Profit: Rs. 201 crore
OfBusiness, a recent addition to India’s unicorn club, achieved a $1 billion valuation in 2021. Surprisingly, it’s already the fifth most profitable startup unicorn in the country. OfBusiness specializes in a unique model—it runs a platform for sourcing raw materials and provides credit to small businesses through its financial arm, Oxyzo. Notably, it entered the raw material sourcing sector at an opportune time and now serves prominent clients like JSW and Jindal Steel and Power. Reporting a profit of Rs. 201 crore last year, OfBusiness showcases the power of innovation and strategic timing in the startup landscape.
Profit: Rs. 186 crore
Infra.Market, a newcomer to India’s unicorn scene since February 2021, operates in the construction space, much like OfBusiness. It aims to assist construction and real estate companies in sourcing materials and managing logistics for their projects. Despite facing some controversy with an income tax raid revealing alleged bogus purchases of Rs. 400 crore, Infra.Market secures the sixth spot among India’s highest profit-making startups. It reported a profit of Rs. 186 crore last year, showcasing resilience in the face of challenges.
Profit: Rs. 150 crore
Billdesk, a veteran in the financial arena with over 20 years of experience, achieved unicorn status in 2018. Despite its maturity, the company has proven to be adaptable, undergoing several business model changes. Currently, Billdesk specializes in providing payment services for major clients, including State Bank of India, Citibank India, HDFC Bank Ltd, ICICI Bank, and telecom giants like MTNL, Reliance Communications, Vodafone, Bharti Airtel, and Tata Teleservices.
Profit: Rs. 142 crore
Dream11 has been profitable since 2020, standing strong amid new players entering the fantasy gaming scene and the pandemic’s impact subsiding. This year, the company maintains its profitable streak, reporting a solid profit of Rs. 142 crore. In the ever-changing landscape, Dream11 continues to shine as a beacon of financial success.
Profit: 98 crore
In the world of ed-tech, PhysicsWallah has made a big impact in the last few years. Unlike older players like Byju’s and Unacademy, it’s not just making waves but also turning a profit. PhysicsWallah started with a simple YouTube channel created by its founder to teach physics, and now it’s a billion-dollar startup. This year, it’s India’s ninth highest profit-making startup, earning Rs. 98 crore. The journey of PhysicsWallah is a success story, proving that innovation in education can lead to both impact and financial success.
Profit: 75 crore
BrowserStack is India’s top SaaS startup, valued at $4 billion in 2021. They provide a platform for web developers to test their code across different browsers and environments. What’s unique about BrowserStack is that it has been profitable since the beginning, making $20 million in revenue before seeking external funds. Last year, it continued its profitable streak, registering profits of Rs. 75 crore. In a world where valuation often takes precedence, BrowserStack’s success lies in its commitment to both innovation and financial sustainability.
