Field experiment was conducted at Agricultural Research Station, Gangavathi, Karnataka during the rainy season of2013 and 2014 to study the effect of two nitrogen levels,viz., 120:60:50 and 150:60:50 kg, N, P2O5 and K2O/ha and four splitsand application timings on the performance of dry direct seeded rice. The data revealed that application of 150:60:50 kgN,P2O5 & K2O/ha with full P and K applied as basal and nitrogen in three equal splits at sowing, active tillering and panicleinitiation recorded significantly higher grain yield (46.62 q/ha) than other treatment combinations and resulted in higher netreturns (` 43495/ha) and benefit-cost ratio (2.09). Improved yield parameters like higher number of panicles per squaremeter and higher panicle weight have contributed for higher grain yield in the above treatments