The present study was undertaken to identify and compare the socio-economic characteristics of layer farm owners and to estimate and compare the costs and returns of layer production under supervision and private management Aftab Bahumukhi Farm Limited (ABFL). Samples were selected by using stratified random sampling technique to fit the objectives of the study. In total 50 layer farms were studied, in which 25 farms were under ABFL supervision and 25 farms were under private management. Costs and returns were calculated separately to find out the profitability of layer production. Total cost of layer farm per 1.5 years were Tk. 32,81,098 and 7,09,712 under ABFL supervision and private management farm, respectively which shared the major part of the total costs. Cash expenses of layer farm per 1.5 years stood Tk. 29,37,367 and 6,38,011for ABFL supervised farm and, private management farm respectively. This accounted for 89.53 and 89.90 percent of their respective total costs. Total non-cash expenses of layer farm per 1.5 years .amounted to Tk. 3,43,731 •and 71,701 under ABFL supervision and private management farm respectively. Gross returns of layer farm per 1.5 years stood Tk. 62,66,456 and 10,08,381 for farms under ABFL supervision and private management, respectively. Return over full cost of layer farm per 1.5 years were Tk. 29,85,358 and 2,98,669. Cobb-Douglas production function analysis was done to determine the effects of some selected variables namely, feed and human labour on layer production. Findings suggested that the selected variables had significant impact on layer production under both the types of farms. The study also identified some problems and constraints associated with poultry production. Finally, on the basis of findings of the study, some recommendations were made for the development of poultry farming in Bangladesh.