Need clarification on working of profiles.

I'm not sure what you mean by called, but it is possible to use profiles in the common partition in other partitions. Here's an example from one of my test boxes:

ltm virtual /partition1/testvip {
    destination /partition1/192.168.100.61:80
    ip-protocol tcp
    mask 255.255.255.255
    profiles {
        /Common/httptest { }
        /Common/tcp { }
    }
    rules {
        /partition1/testrule
    }
    source 0.0.0.0/0
    translate-address enabled
    translate-port enabled
}