Netweb Technologies CFO Prawal Jain Quits

Domestic server manufacturer Netweb Technologies India Pvt. said its Chief Financial Officer Prawal Jain resigned from the post, a regulatory filing said on Friday.

The company has designated its financial controller Ankit Kumar Singhal as interim chief financial officer.

"...the Board of Directors at its meeting held today, i.e., November 15, 2024, has approved to designate Ankit Kumar Singhal, presently acting as the Financial Controller, as the Interim Chief Financial Officer and Key Managerial Personnel of the company with effect from November 15, 2024, till the time the board appoints the new CFO and Prawal Jain will step down as the CFO," the filing said.

Jain will continue to be a part of the company till Dec. 31, 2024, to ensure a smooth transition, the filing said.

Netweb Technologies is an authorised original equipment manufacturer partner of GPU chipset giant Nvidia.

The company posted around 70% increase in net profit to Rs 25.72 crore in the September 2024 quarter, from Rs 15.14 crore in the same period a year ago.

The total income of the company also grew by 71% to Rs 253.11 crore during the reported quarter from Rs 148 crore in the September 2023 quarter.