If lipid profile is ideal, then also can body fat percentage be high?

Yes: Cholesterol & fat in blood has only minimal relationship to how fat a person is. You can weight 300 lbs and have normal cholesterol, and fats in your blood, to be healthy the first step is always to lose weight, men: waist less than 40 inch, women waist less than 35 inches. When you lose weight you lipids/cholesterol will improve, but not always to normal, then see a doctor, .