ABSTRACT Precisely because of low nutrient availability and toxicities of nutrients unfertilized alfisols are unable to satisfy the nutrients requirement to meet plants demand. An investigation was carried out to assess the impact of biofertilizer inoculation (no biofertilizers, arbuscular mycorrhizal fungi (AMF) @ 10 kg ha−1, phosphate solubilizing bacteria (PSB) @ 10 kg ha−1, AMF+PSB @ 5 kg each ha−1 and AMF+PSB @ 10 kg each ha−1) and phosphorus levels (15, 30, 45, and 60 kg ha−1) on growth, quality, productivity and profitability of groundnut in alfisols of Western Ghats of Maharashtra, India, in a factorial randomized block design during 2017–18 and 2018–19 growing seasons. It was discovered that groundnuts grew better with 60 kg phosphorus and 10 kg each AMF+PSB ha−1 and produced significantly higher pod yield (35.86 q ha−1), kernel yield (2.52 t ha−1) and harvest index (41.47%). However, inoculation and their interaction did not reach the level of significance, despite the fact that they responded favorably to the high phosphorus (60 kg ha−1) rate. Similarly, plots infused with 60 kg phosphorus ha−1 and AMF+PSB 10 kg each ha−1 significantly exhibited highest oil content (50.62%), protein content (31.93%), total nitrogen (269.71 kg ha−1), phosphorus (8.60 kg ha−1) uptake, nutrient efficiency ratio (40.79 kg kg−1), nutrient harvest index (44.11%), gross return (INR 2,44,388 ha−1), net return (INR 62,209 ha−1), and benefit: cost ratio (B:C ratio) of 1.96. In view of their intense need for nutrients, groundnuts thrived well when given an appropriate combination of inorganic and biological fertilizers.