Present study investigates the heat transfer and friction characteristics of heat exchanger tube fitted with perforated twisted tape (PTT) insert having V cuts. A copper tube of 1 m length and 0.032 m inner diameter is used as test section to collect the experimental data by varying the twist ratio of PTT from 2 to 6 for the Reynolds number range of 2,700-23,400. V cuts are introduced in the PTT and the V-cut relative pitch ratio is varied from 1 to 2. The maximum thermo-hydraulic performance parameter is found to be 1.58.