It seems okay to say "profit" only, so would the meaning of this sentence be changed if I drop "margins"?
If you wish to drop the "margins" in the word, you can replace "good profit margins" with "good profits." However, "margin" is a business term that means a company's profits divided by revenue. The use of this term has helped elevate the language a bit and add formality. Ex: The manager is in charge of improving profit margins. Ex: Profit margins have been decreasing as expenses have risen.
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