Westlife Development on Wednesday announced that Pankaj Roongta has resigned from the position of the chief financial officer (CFO) of the company and of its subsidiary.
The company further said that the resignation has been accepted. Accordingly, he has ceased to be such CFO, with effect from 8 December 2021. Roongta was appointed as chief financial officer with effect from 4 May 2020.Shares of Westlife Development were trading 1.23% higher at Rs 585.35 on BSE.
Westlife Development focuses on setting up and operating quick service restaurants (QSR) in India through its subsidiary Hardcastle Restaurants (HRPL). The company operates a chain of McDonald's restaurants in West and South India, having a master franchisee relationship with McDonald's Corporation USA, through the latter's Indian subsidiary.
On a consolidated basis, the company reported a net loss of Rs 4.42 crore in Q2 FY22 as compared to a net loss of Rs 32.54 crore posted in Q2 FY21. Net sales rose 84% to Rs 380.75 crore in Q2 FY22 over Q2 FY21.
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