CITY-based Spel Semiconductor, India’s first and only integrated circuit assembly & test company, has posted a record 87% rise in net profit at Rs 7.31 crore during the year ending March 31, 2008, against Rs 3.91 crore in the previous year. Revenue increased by 38.8% at Rs 76.48 crore (Rs 55.09 crore).

In a statement, Spel said by fully utilising the investments made last year, it recorded the highest ever growth in revenue and net profit.

It had enhanced capacity to 425 million ICs in October 2007 and it will be available for the entire period this year. Spel is also in the process of raising funds to continue with its capacity expansion.

Expecting its sustained performance to drive growth, the company said it is committed to firmly establishing itself as the natural destination for global customers seeking costeffective assembly & test services. Its ICs are used globally in consumer electronic applications ( such as cell phones, PDAs & digital cameras), desktop PCs, note book computers & automobiles.