Hello Arun,
the error message itself that no result column of the vew is defined as a measure. At least one measure is necessary in case the data category of the view is set to "CUBE" (check the view properties for that). No measure is necessary in case the data category is set to blank. But than you cannot consume the view in reporting tools, but the view can be used as e.g. reuse view in other views.
But the main error in your case is how you call the procedure. You say VAR_OUT = CALL ... . That is not possible because your procedure has no "returning" parameter (which is also not possible) but four output parameters. The scripted calculation view has exactly one result parameter VAR_OUT. For that parameter you have to define the result columns (if not already done). You can call your procedure but you have to supply table variables for the four output parameters. But you cannot return the four output parameter of the procedures via the view. The view must have exactly one result. Either you can determine one result from your table variables then or you have to re-think your logic.
Best Regards,
Florian