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'can be profitable' is correct and usable in written English.
You can use it when referring to something that has potential to generate financial gains. For example: Investing in stocks can be profitable if done strategically.
Exact(58)
Apparently, some non-profits can be profitable for some.
Second, investing ethically can be profitable.
Online pet stores can be profitable.
E-books, moreover, can be profitable.
And it can be profitable.
Still, selling in airports can be profitable.
Of course notoriety can be profitable.
Cowley insists the Statesman can be profitable.
Do you believe this venture can be profitable?
Similar(2)
Grasping those differences can be profitable to investors willing to go beyond equities.
The sharp aggregation in the thermocline can be profitable as long as density effects are negligible.
More suggestions(18)
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com