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TeachMeFinance.com - explain net profit net profit -- see net income. net income -- gross income less expenses, including taxes and insurance, but before depreciation, additions to reserves or distribution of earnings. historic definition... Net profit -- What is left after all expenses have been deducted. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.