Introduction: Pneumothorax and hydropneumothorax are among two important clinical conditions that come across in pulmonary medicine. Data regarding the clinical profile, diagnosis, and outcome of pneumothorax and hydropneumothorax are limited. This study was done to know more about these two important respiratory entities. Aim: To describe clinical profile, diagnosis with reference to pathology, and outcome of hydropneumothorax/pneumothorax. Materials and Methods: It was a hospital-based prospective observational study. The patients included were the diagnosed cases of pneumothorax and hydropneumothorax during the period June 2016 to November 2018. Clinical symptoms and a thorough clinical history were asked, followed by a detailed clinical examination. Chest X-rays were done for confirmation of clinical diagnosis. Whenever applicable, blood, sputum, and pleural fluid investigations were advised. As a treatment, an Intercostal Drainage (ICD) tube was inserted and kept until the clinical and radiological recovery of the patient. Results: Hundred patients were studied. Most of the patients presented with breathlessness, cough, chest pain, loss of appetite, and fever. About 92% of patients with pneumothorax had breathlessness, while about 94% of pneumothorax had breathlessness. About 43% of cases of pneumothorax and 65% of cases of hydropneumothorax were due to tuberculosis. We inserted an ICD tube in all the patients. The mean duration of the requirement of an ICD tube was 11.08 days (SD=8.60) in cases of pneumothorax and 18.6 days (SD=10.16) in cases of hydropneumothorax. Conclusion: The most common clinical feature is breathlessness. Tuberculosis was the most common etiology. ICD was required for a longer duration of time for hydropneumothorax compared to that for pneumothorax.