What is the significance of lipid profile?

Predicts events.: Lipid profile tells you about risk for future heart / blood vessel disease. Smoking, hypertension, diabetes and lipids are modifiable risk factors. Non modifiable risk factors are male sex, getting older and having family history of early heart disease. At your age there is virtually no contribution of lipids to mortality within the next 20 years unless numbers very high or many risk factors.

Estimate Lipoprotein: The lipid panel measures blood cholesterol and triglycerides (tg). These lipids are carried by lipoprotein particles such as tg-rich vldl and cholesterol-rich LDL and hdl. Tg is used to estimate vldl concentration, while the cholesterol carried in LDL and HDL (ldl-c and hdl-c) is used to estimate LDL and HDL particle concentrations. If ldl-c and ldl-p differ, chd risk tracks with ldl-p, not ldl-c.

Estimate Lipoproteis: A lipid profile measures blood cholesterol and triglycerides (tg) carried inside lipoprotein particles (vldl, ldl, hdl). Tg is used to estimate vldl, while ldl-c and hdl-c estimate LDL and HDL particle levels. Because lipids carried in lipoproteins are highly variable, cholesterol and particle measures of LDL and HDL often differ. In such cases risk tracks with ldl-p and hdl-p, not ldl-c or hdl-c.