Do profile really matter during GDS n PI??

Yes it does. In fact it plays a very significant role in final merit list formation. GDs for IIMs or other B schools might be case based or on some burning topics but your PI might revolve around your profile completely. In fact the shortlisting for GDs and PI is also based upon CAT percentile + Your profile which comprises of
*10th scores
*12th scores
*Graduation background (this pertains to academic diversity)
*Work profile (nature and type of work, your designation and number of years worked)

To mention specifically about PI,  I know of several cases when their interviews revolved completely upon their profile, either about their graduation years, or few achievements mentioned. Rather I must quote it this way that PI are held to know about you and your profile is what describes you and your past life in front of the interviewers. Stronger the profile,  better the impression you create.
Wish u all the best!!

For most top B-Schools, profile has separate marks and so during GD-PI they will mostly try to judge you and not your profile