This study aimed to determine a feed formulation with best protein to energy ratio which would result in better growth, feed efficiency and carcass composition of Cyprinus carpiocommunis. Fingerlings having average weight 1.64 ± 0.13 g and length 5.26 ± 0.10 cm were fed on four different formulated feeds and a control feed (each in a triplicate set), 6% of their body weight, three times a day, during 90 days. Feeds were formulated using ground nut oil cake, mustard oil cake, rice bran, wheat bran, fish meal and soybean meal in order to suffice the balanced need of protein and energy of the Common carp. Growth, feed efficiency and carcass composition were measured. At the end of the study, the growth, feed efficiency and carcass composition of fingerlings was affected significantly (P < 0.05) with protein, lipid and carbohydrate contents in the feeds. Highest growth, best feed conversion ratio, best protein efficiency ratio, highest carcass dry matter, crude protein, crude lipid, ash and energy content, lowest moisture content and carbohydrate content were observed in fingerlings fed with Feed B which contained 40 ± 0.21% protein, 9.31 ± 0.25% lipid and 10.08 ± 0.10% carbohydrate. The fingerlings fed with Feed C which contained 25.98 ± 0.19% protein, 5.49 ± 0.18% lipid and 34.63 ± 0.19% carbohydrate showed least growth, poor feed conversion ratio, poor protein efficiency ratio, least carcass dry matter, crude protein, crude lipid, ash and energy content, highest moisture content and carbohydrate content. This work concluded that a diet containing 40% protein, 9.31% lipid and 10.08% carbohydrate is the best one for a more profitable and successful culture of the Common carp. Key words: Protein to energy ratio, carp production, growth, feed efficiency, carcass composition.