Single cell oils (SCO) are oils derived from microorganisms which have potential to hyperaccumulate intracellular lipids (called oleaginous) under some essential nutrient (nitrogen, phosphorous or sometimes sulphur) starvation and an excess of carbon. The present work investigates the influence of these key parameters (for triggering oleaginicity), i.e. carbon (C) and nitrogen (N) on oleaginous behaviour of an oleaginous isolate, with the objective of improving the lipid content and obtaining oils of applicative interest. Eleven yeasts were isolated from rotten fruits and a unique yeast from rotten apple was screened on the basis of its similar to 20% (of dry mass) lipid content (LC), trademark of oleaginicity under nitrogen-stressed culture conditions. Subsequent investigation on influence of C, N and w/w ratio of carbon source concentration (Cs) to nitrogen source concentration (Ns) was conducted on this isolate. The isolate was identified as a Deuteromycete-Geotrichum candidum.4.8 g/l was found to be minimum N concentration and glucose as suitable C source for optimum balance between biomass and lipid content. The highest LC of 73.6% (172.5% higher compared to 27% LC at Cs/Ns 80/4.8) was obtained at Cs/Ns 150/4.8 with a lipid coefficient of 8.7 (g lipid/100 g substrate). While remarkably higher production economy (lipid coefficient of 28.45) was noted at Cs/Ns 100/4.8 with significant LC of 54.4% (similar to 100% higher than at Cs/Ns 80/4.8). The derived oils were predominantly rich in medium-chain fatty acids (MCFA)-caprylic acid, rare in plant oils.G. candidumis a previously referred oleaginous species; however, for the first time this study illustrates its detailed oleaginous behaviour and lipid compositional characteristics with varying nutritional parameters. The work is a progressive contribution towards current and upcoming researches in field of SCOs. Compositional characteristics of derived oils, make it an important candidate for potential medical and nutritional applications in future.