The present study was planned to evaluate the performance of groundnut (Arachis hypogaea L.) under varying levels of sulphur and its sources under Semi-Arid condition of Rajasthan. Application of 60 kg S/ha resulted 8.8, 23.8 and 59.6% more pod/plant than 45, 30 and 15 kg S/ha, respectively. Gypsum as a source of S recorded 15.4 and 50.4% higher pods/ plant over SSP and elemental sulphur, respectively. However, number of kernels/pod increased significantly upto 45 kg/ha only. Gypsum and SSP improved the kernels/pod by 14.2 and 11.2% over elemental sulphur, respectively. Application of 60 kg S/ha resulted in 140, 345 and 744 kg/ha and 127, 319 and 616 kg/ha higher pod and kernel yield over 45, 30 and 15 kg/ha, respectively. Sulphur application through gypsum recorded the highest pod yield (1872 kg/ha) of groundnut that was 13.1 and 32.0 percent more than obtained under SSP and elemental sulphur treatment, respectively. Application of sulphur at 75 kg S/ha was recorded highest shelling% (72.13%) which were 7.0 and 10.9 per cent higher over 30 and 15 kg S/ha. The application of S at 45 kg/ha exhibited 7.6 and 17.0% higher protein content over 30 and 15 kg S/ha, respectively. Among sources, the highest protein content (23.75%), oil content (44.49%) and oil yield (597.76 kg/ha) was obtained with gypsum. Application of 60 kg S/ha increased oil yield by magnitude of 70.3, 175.1 and 316.9 kg/ha over 45, 30 and 15 kg S/ha, respectively. Sulphur application at the rate of 60 kg/ha increased the margin to the tune of 6343, 15867, 34062/ha over 45, 30 and 15 kg S/ha, respectively. Likewise, graded increment in levels of sulphur resulted in significantly higher BCR upto 60 kg/ha over lower levels. The maximum net returns (55358/ha) and BCR (1.68) were obtained with gypsum.