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The phrase "make profits" is correct and usable in written English.
It can be used in any context where the idea of generating profits is being discussed. For example, "By making smart investments, our company was able to make substantial profits last year."
Exact(59)
Private companies need to make profits, and social housing is not profitable in the short term.
As for less profitable, well, it didn't actually make profits.
It exists to make profits.
To make profits.
Now investors want them to make profits".
These are customers who buy today to make profits tomorrow.
"If you cannot innovate, you cannot make profits," he said.
"Frankly, our banks make profits far too easily.
Would it make profits at the expense of NHS patients?
Any responsible company needs to make profits for its shareholders.
Like most online retailers, Bertelsmann's have yet to make profits.
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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