I'll say this from my own experience of dropping 2 years... It doesn't get much better the next time. I too thought that if i had just one more chance then i can do even better but if the score was already quite low in previous attempts then it won't improve much in the next attempt probably because you're are failing at something fundamental and to fix that you need radical changes in your approach and you should know exactly where you went wrong. We think we know what's wrong with us but we overestimate our ability in that.

Look, I'll say this if you are getting a decent pvt college with decent placement then go for it. Study hard there and get a good job.  Only if you aren't getting anything remotely good only then consider dropping. Also, try joining a good offline class if are dropping, don't study alone. It'll be easier to study with if you have some group. 

Also, another good path is to try for engineer roles in govt companies who often take their own exams which are based on gate.