.profile is ignored when terminal is started in MAC-OSX

One fine day suddenly all environment variables that I have set inside .profile file of my machine stopped getting declared when machine is restarted. 

It turns out that if you have .bash_profile or .bash_login file then .profile file will be ignored by bash. 

So you need to make use of either .profile or .bash_profile not both of them, if you are using bash.