ESCORTS MUTUAL FUND
ESCORTS BALANCED FUND
REVENUE ACCOUNT FOR THE YEAR ENDED  MARCH 31, 2007
		SCHEDULE	FOR THE YEAR		FOR THE YEAR
			ENDED		ENDED
			MARCH 31, 2007		MARCH 31, 2006
			( Rs.)		( Rs.)
INCOME & GAINS
Interest		6	751,774		1,880,606
Profit on Sale/Redemption of Investments			12,083,192		19,219,222
(other than Inter-Scheme Transfer/Sale)
Profit on Inter-Scheme Transfer/Sale			2,808,752		836,493
Dividend			531,276		607,998
Premium  on Equity Stock Option			108,551		308,701
Discount Income			-		30,231
Sundry Balances Written Back			-		21,505
Profit on Equity Stock Option			651,486		6,956
			-		-
Total Income			16,935,031		22,911,712
			-		-
EXPENSES & LOSSES
Loss on Sale/Redemption of Investments		7	2,372,466		675,096
(other than Inter-scheme transfer/sale)
Loss on Sale on Inter Scheme			658,648		226,824
Loss on Equity Stock Option			1,111,028		1,246,042
Investment Management & Advisory Fees			607,850		760,499
Trusteeship Fees			18,285		25,135
Audit Fees			10,112		10,102
Custodian Fees			13,331		21,081
Other Operating Expenses			432,144		522,247
Fringe Benefit Tax			5,629		4,956
			-		-
			5,229,493		3,491,982
Less: Expenses to be Reimbursed by the Asset Management Company			112,540		101,826
			-		-
Total Expenses			5,116,953		3,390,156
			-		-
EXCESS OF INCOME OVER EXPENSES			11,818,078		19,521,556
Net Change in Unrealised Depreciation		8	(1,368,451)		(357,544)
in Value of Investments
Equalisation Account			(8,816,880)		(2,202,670)
Dividend Paid			(4,678,163)		(14,403,521)
			-		-
SURPLUS  CARRIED TO BALANCE SHEET			(3,045,416)		2,557,821
			-		-
Significant Accounting Policies & Notes on Accounts		9
The Schedules referred to above form an
integral part of the Revenue Account