Potato chips industry wastewater was collected and analyzed for biochemical oxygen demand (BOD), chemical oxygen demand (COD), total suspended solids (TSS) and total carbohydrates. Two Aspergillus species, A. foetidus and A. niger, were evaluated for their ability to grow and produce biomass and reduce the organic load of the wastewater. A. foetidus MTCC 508 and A. niger ITCC 2012 were able to reduce COD by about 60% and produce biomass 2.4 and 2.85 gl(-1), respectively. Co-inoculation of both Aspergillus strains resulted in increased fungal biomass production and higher COD reduction than in individual culture at different culture pH. pH 6 was optimum for biomass production and COD reduction. Amendment of the wastewater with different N and P sources, increased the biomass production and COD reduction substantially. Under standardized conditions of pH 6 and amendment of wastewater with 0.1% KH2PO4 and 0.1% (NH4)2 SO4, a mixed culture gave 90% reduction in COD within 60 h of incubation.