An experiment to investigate the compensatory growth (CG) response of Labeo rohita was conducted in two phases: a first phase (6 weeks) in which triplicate groups of fish were subjected to feed restriction (5, 25, 50 and 75 % of satiation) or satiation feeding (control) and a second phase (6 weeks) of satiation feeding for all treatment groups. CG in body weight occurred in groups which were under moderate feed restriction (50–75 % of satiation) under phase 1, but more severe feed restrictions resulted in lower weight gain. Improved feed conversion ratio (FCR) (1.6 ± 0.05 and 1.9 ± 0.03) relative to control (2.1 ± 0.06) was observed in the fish that displayed CG following moderate feed restriction (50–75 % of satiation). At the end of the experiment, body moisture, lipid and protein content were not significantly different between moderately restricted fish and the control. After the first phase, there was no significant difference in the expression of pituitary growth hormone (GH) gene between groups, but at the end of the experiment, significantly lower GH expression was observed in the fish subjected to a restriction of 25 and 50 % of satiation during phase 1. Exploiting the ability of fishes to undergo CG in terms of weight gain and improved FCR without major changes in body composition can be considered as an effective management practice.