Peanut cultivation during the summer needs precise management of nutrient and water resources particularly in arid and semi-arid areas to sustain agricultural productivity where water is a scarce commodity. Application of NPK fertilizers both normal and water-soluble was evaluated using soil and drip fertigation methods for their effect on productivity, profitability, enzyme activities, and soil nutrient balance. Application of 100% NF at sowing through drip irrigation (T10) significantly (p =.05) enhanced leaf area index (LAI), yield attributes, pod, kernel, and oil yields, and net returns over T1, which was found at par to the staggered application of 75% or 100% water-soluble fertilizers (WSF) through drip except for net returns at T5 and T8. However, the highest plant height, dry weight, and haulm yield was observed under T4. The highest PFP was recorded with treatment T6 and showed a declining trend with an increase in fertilizer dose. Activities of phosphatase enzymes increased up to 60 DAS and thereafter, showed a declining trend except for alkaline phosphatase under T1. Significantly higher dehydrogenase activity was reported under T9 at 60 DAS except under T1 and T6. Compared to initial status, actual available N, P, and K status after harvest increased in all the treatments but maximum actual gains were recorded under T1. The results clearly indicated that pod yield and net returns obtained under treatments T2 to T9 were comparable to T10 except for net returns at T5 and T8. Therefore, 25% NPK requirement could be saved without affecting yield and net returns with treatment T6 in the summer peanut. [ABSTRACT FROM AUTHOR]