A rainfed field experiment was conducted during 1988-89, 1989-90 and 1990-91 to evaluate the performance of cotton (Gossypium species) hybrids of varieties under varying levels of N on Vertisols of Parbhani. The treatments comprised cotton hybrids or varieties ['NHB 2, 'NHH 302', PH 93', 'LRA 5166' and 'PA 141' ('Namdeo')] as main plots and 5 N levels (0, 40, 80, 120 and 160 kg N/ha) as subplots. Pooled data indicated that varieties 'PH 93 and 'LRA 5166' and hybrid 'NHH 302' performed well and gave higher seed-cotton yield than 'NHB 12' and 'PA 141'. Variety 'PH 93' gave the highest monetary returns. The performance of 'NHH 302' and 'LRA 5166' was also equally good. The cost: benefit ratio was highest from 'PH 93', followed by 'LRA 5166' and both varieties proved significantly superior to the others, indicating sustainability of G. hirsutum varieties over G. hirsutum x G. barbadense hybrid ('NHB 12') and desi variety ('PA 141'). Application of 160 kg N/ha enhanced the yield of seed-cotton yield compared with all the lower levels of N, so also the net monetary returns and cost: benefit ratio except with 120 kg N/ha.