The risk profile of an individual indicates their ability and willingness to take risks. The purpose of risk profiling is to ensure a suitable asset allocation that helps the investor stay invested by managing the risk at a level that does not cause them to panic and exit in the event of a market correction.
An investor's ability to take risk depends on his/her income, expenses, age, responsibilities, total net worth, etc. Their willingness to take risks is determined by their temperament, how much risk or loss they are able to handle beyond which they are likely to take irrational decisions out of fear or inability to handle the pain and discomfort.
You can find out your risk profile here.