Listing profiles are used to make listing items on eBay easier and faster. These are pre settings for listing items so that less time taken to list items.
In listing profiles, you can set eBay account in which items going to list. And set ebay description templates. Also can set business policies like shipping policy, payment policy and return policy. Also set item condition, category, price settings, title setting and product sync settings etc...
All these settings in listing profiles are used while doing category listing and bulk listing.