Definition of profit verb from the Oxford Advanced American Dictionary

 

profit

 verb
verb
NAmE//ˈprɑfət//
 
[intransitive, transitive](formal)Verb Forms present simple I / you / we / they profit
 
he / she / it profits
 
past simple profited
 
-ing form profiting
 
 
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to get something useful from a situation; to be useful to someone or give them an advantage profit (from something) Farmers are profiting from the new legislation. profit (by something) We tried to profit by our mistakes (= learn from them). profit something Many local people believe the development will profit them.
See the Oxford Advanced Learner's Dictionary entry: profit