Leadership Shift: Netweb Technologies Appoints Interim CFO Amidst Strong Financial Growth

Netweb Technologies announced CFO Prawal Jain's resignation and the appointment of Ankit Kumar Singhal as interim CFO. The company reported a 70% rise in net profit for the September 2024 quarter. Jain will remain with the company until December 31, 2024, to ensure a smooth transition.

Domestic server manufacturer Netweb Technologies has announced the resignation of its Chief Financial Officer, Prawal Jain, according to a recent regulatory filing. In response, the company has appointed its current financial controller, Ankit Kumar Singhal, as the interim CFO.

The decision was ratified during a board of directors meeting held on November 15, 2024. Ankit Kumar Singhal will assume the responsibilities of Interim Chief Financial Officer and Key Managerial Personnel with immediate effect. Jain is expected to serve in his current capacity until December 31, 2024, ensuring a seamless transition to the new leadership.

Netweb Technologies, an OEM partner with GPU industry leader Nvidia, has showcased notable financial performance. The company reported a significant 70% increase in net profits, amounting to Rs 25.72 crore in the September 2024 quarter, compared to Rs 15.14 crore during the same period last year. Additionally, total income surged by 71%, reaching Rs 253.11 crore compared to Rs 148 crore in the previous year's quarter.

(With inputs from agencies.)