Production companies obviously have to make a profit, but they may tend to ignore along the way the very things which could bring them fortunes. What an expensive mistake it would have been to get rid of Star Trek! The reasoning to do so would have been formulated by back-room people, looking at trends and figures, rather than interacting with those who ultimately influence the outcome - the viewing public.
Production companies do not have an easy job. If they make too many failed movies, they risk going bankrupt. Movies are extremely expensive to produce, and if you don't make enough back from those movies then you can't commit to making more films. However, it seems recently that production companies are hyper-focused on what they know will definitely make them money. The vast majority of releases from the last few years have been sequels and franchise films. It's time for production companies to take some chances and create something new for the viewing public.
Profits are an essential part of capitalism. They give investors a return, encourage innovation and signal where resources should be invested. Their accumulation allows investment in bold new ventures. High profits can deepen inequality in various ways. The pool of income to be split among employees could be squeezed. Profits are too high.
Production companies must focus on being profitable if they want to stay in business. Profit motivates all businesses to create high-quality products that consumers want to buy. If production companies stop focusing on profitability then the quality of movies, as well as the types of films that audiences enjoy watching would decline. In short, no production companies do not focus too much on profitability.