ORA-13842: no SELECT privilege on DBA_SQL_PROFILES
Cause : A user has tried to perform an operation that requires SELECT privileges on the DBA_SQL_PROFILES view.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Either perform the operation as another user or get the privilege
Well, the reason for above error is that i have taken the above script from a 11g database and running it on 10g database. 11g has bring some changes in password management. Below code is executed on 11g and user created successfully, which is expected result.