The paper deals with second law thermodynamic analysis of a basic gas turbine based gas-steam combined cycle. The article investigates the effect of variation of cycle parameters on rational efficiency and component-wise non-dimensionalised exergy destruction of the plant. Component-wise inefficiencies of the combined cycle have been quantified with the objective to pin-point the major sources of exergy destruction. The parameter that affects cycle performance most is the TIT (turbine inlet temperature). TIT should be kept on the higher side, because at lower values, the exergy destruction is higher. The summation of total exergy destruction of all components in percentage terms is lower (44.88%) at TIT of 1800 K & r(p,c) = 23, as compared to that at TIT = 1700 K. The sum total of rational efficiency of gas turbine and steam turbine is found to be higher (54.91%) at TIT = 1800 K & r(p,c) = 23, as compared to that at TIT = 1700 K. Compressor pressure ratio also affects the exergy performance. The sum total of exergy destruction of all components of the combined cycle plant is lower (44.17%) at higher value of compressor pressure ratio (23)& TIT = 1700 K. as compared to that at compressor pressure ratio (16). Also exergy destruction is minimized with the adoption of multi-pressure-reheat steam generator configuration. (C) 2010 Elsevier Ltd. All rights reserved.