I tried to create a new port-profile on a Nexus 1000V and got the error
2016 Oct 14 10:33:35 N1Kv %MSP-5-PP_UPDATE_FAILED: Update of port-profile 'New-Port-Group' on the vCenter Server failed. Please verify port-profile config.
This error can appear if you configure more max-ports on the port-profiles than you specified in the ‘svs connection vcenter’. In my case i had overprovisioned the port-profiles with ‘max-group 512’, so i just reduced the max-port on some port-profiles and this solved the issue.