Source : Webster's Revised Unabridged Dictionary (1913)

Profit \Prof"it\, v. i.
   1. To gain advantage; to make improvement; to improve; to
      gain; to advance.

            I profit not by thy talk.             --Shak.

   2. To be of use or advantage; to do or bring good.

            Riches profit not in the day of wrath. --Prov. xi.
                                                  4.

Profit \Pro"fit\, n. [F., fr. L. profectus advance, progress,
   profit, fr. profectum. See {Proficient}.]
   1. Acquisition beyond expenditure; excess of value received
      for producing, keeping, or selling, over cost; hence,
      pecuniary gain in any transaction or occupation;
      emolument; as, a profit on the sale of goods.

            Let no man anticipate uncertain profits. --Rambler.

   2. Accession of good; valuable results; useful consequences;
      benefit; avail; gain; as, an office of profit,

            This I speak for your own profit.     --1 Cor. vii.
                                                  35.

            If you dare do yourself a profit and a right.
                                                  --Shak.

   Syn: Benefit; avail; service; improvement; advancement; gain;
        emolument.

Profit \Prof"it\, v. t. [imp. & p. p. {Profited}; p. pr. & vb.
   n. {Profiting}.] [F. profiter. See {Profit}, n.]
   To be of service to; to be good to; to help on; to benefit;
   to advantage; to avail; to aid; as, truth profits all men.

         The word preached did not profit them.   --Heb. iv. 2.

         It is a great means of profiting yourself, to copy
         diligently excellent pieces and beautiful designs.
                                                  --Dryden.

Source : WordNet®

profit
     v 1: derive a benefit from; "She profited from his vast
          experience" [syn: {gain}, {benefit}]
     2: make a profit; gain money or materially; "The company has
        not profited from the merger" [syn: {turn a profit}] [ant:
         {lose}, {break even}]

profit
     n 1: the excess of revenues over outlays in a given period of
          time (including depreciation and other non-cash
          expenses) [syn: {net income}, {net}, {net profit}, {lucre},
           {profits}, {earnings}]
     2: the advantageous quality of being beneficial [syn: {gain}]