A different take on what you are doing, wouldn't hurt to give it a try:

/* Provide test data for building script */

declare @DB_NAME nvarchar(128),

@SCHEMA_NAME nvarchar(128),

@TABLE_NAME nvarchar(128),

@COLUMN_NAME nvarchar(128);

select

@DB_NAME = 'TEST',

@SCHEMA_NAME = 'dbo',

@TABLE_NAME = 'TBL_1',

@COLUMN_NAME = 'TCode';

/****************************************/

declare @SQLCmd nvarchar(max),

@SQLParm nvarchar(max);

set @SQLCmd = N'

WITH BlankCount as (

SELECT

BLANK_COUNT = COUNT(*)

FROM

[' + @DB_NAME + N'].[' + @SCHEMA_NAME + N'].[' + @TABLE_NAME + N'] tc

WHERE

tc.[' + @COLUMN_NAME + N'] = ''''

)

UPDATE [dbo].[Data_Profile_Stats] SET

BLANK_COUNT = (select BLANK_COUNT from BlankCount)

WHERE

[DB_NAME] = @DBNAME AND

SCHEMA_NAME = @SCHEMANAME AND

TABLE_NAME = @TABLENAME AND

COLUMN_NAME = @COLUMNNAME;'

set @SQLParm = N'@DBNAME nvarchar(128), @SCHEMANAME nvarchar(128), @TABLENAME nvarchar(128), @COLUMNNAME nvarchar(128)';

print @SQLCmd;

exec sp_executesql @SQLCmd, @SQLParm, @DBNAME = @DB_NAME, @SCHEMANAME = @SCHEMA_NAME, @TABLENAME = @TABLE_NAME, @COLUMNNAME = @COLUMN_NAME;