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Hi Bhushan,
Worksheets("Sheet3").Range("L5:S18").CopyPicture xlScreen, xlBitmap
I can see nothing problematic with the syntax of your implementation of the Range.CopyPicture method and I am unable to replicate your error. I am aware of an old bug with the Range.CopyPicture under Excel 2007, when the value xlPicture is assigned as the format value, but in your case neither condition pertains.
Additionally, the fact that the code works on the first pass would lead me to look elsewhere for a solution.
Hopefully, someone else will bee able to respond in a more useful manner.
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Regards,
Norman