Experiment was conducted using twenty Gossypium hirsutum genotypes grown in irrigated and rainfed conditions during kharif 2012 at Agric. Research Station, University of Agric. Sciences, Dharwad, Karnataka. There was significant difference between the genotypes for yield and yield components in both the situations. Under irrigated condition, the variety BS-79 has recorded highest yield (1568 kg/ha) followed by RHC-0717 (1439 kg/ha) and BS-279 (1373 kg/ha) where as CSH-1111 (727 kg/ha) and PH-1075 (853 kg/ha) recorded the least yield. Wheras, in rainfed situation BS-279 (1189 kg/ha) recorded the highest yield followed by BS-79 (1176 kg/ha) and CSH-1111 (604 kg/ha) fol­lowed by H-1454 (613 kg/ha) recorded least yield. The per cent yield reduction in rainfed condition compared to irrigated condition was highest in the genotype H -1462/12 (38.7 %) followed by BHL-2413 (38.3 %) indicating their sensitivity to moisture stress, where as the least reduction was observed in SCS -793 (2.4 %) and BGDS -802 (3.0 %). The biplot of yield vs. DSI comparison indicated that the genotypes SCS-793, BGDS-802, GJHV-500 and NDLH-1938 are having most desirable traits like high yield as well as low drought susceptibility indices. While H-1462/12 and BHL-2413 recorded the low yield and more DSI. These conclusions are supported by physiological and yield component variations in genotypes under irrigated vs rainfed situations. These lines can be used in breeding programmes for moisture stress tolerance as well as for yield stability.