Fifteen close up pregnant Murrah buffaloes of mean body weight (668.3 ± 24.03) kg, lactation number (2.8 ± 0.17) and expected producing ability (EPA) (2125.7 ± 46.34) were randomly distributed into three groups each of five animals to investigate the performance at different levels of metabolizable energy and protein. Control group was fed as per ICAR Nutrient requirements of animals (2013) recommendation whereas treatment group (1) high metabolizable energy and high metabolizable protein (HMEMP) and group (2) low metabolizable energy and low metabolizable protein (LMEMP) were offered with ration containing 15% more and 15% less ME and MP, respectively. The feeding trial was carried out for the period of 40 days before parturition and continued for 120 days after parturition. Intake of dry matter (DM) (%BW) was similar among experimental groups. Metabolizable energy (ME) (MJ/100 kg BW) and metabolizable protein (MP) (g/100 kg BW) intake was highest in HMEMP followed by control and LMEMP group, respectively. Digestibility trial of 7 days was conducted at 60 days post-partum and it was observed that apparent digestibility coefficients (%) of DM, organic matter (OM), crude protein (CP), ether extracts (EE), neutral detergent fiber (NDF) and acid detergent fiber (ADF) were similar among the experimental groups. Milk yield (kg/kg DMI) was similar among treatment groups whereas 6% fat corrected milk (FCM) was lower in LMEMP group as compared to HMEMP and control. No significant effect of dietary MP and ME levels on milk composition was observed among experimental groups. There were no significant difference in non esterified fatty acid (NEFA), blood urea nitrogen(BUN), growth hormone (GH) and insulin like growth factor-1(IGF-1) concentration among different experimental groups whereas concentration of immunoglobulin G (IgG) (μg/ml) was found to be lower in LMEMP. The study results indicate that nutrient digestibility and lactation performance was not affected with 15% variation in intakes of ME and MP in lactating Murrah buffaloes.