Hindalco elevates Satish Pai as Managing Director

Mumbai: Aluminium major Hindalco Industries on Saturday named Satish Pai, currently the Deputy Managing Director, as the company's MD, reports Our Bureau. Pai will succeed current Managing Director D Bhattacharya, who has been appointed vice-chairman and who will also continue as a non-executive director, Hindalco said in a statement. “D Bhattacharya will be demitting office as managing director with effect from July 31, 2016,” Hindalco said on BSE on Saturday. Bhattacharya is likely to become the Chairman of the Group's business review council. The aluminium major reported a 123% jump in net profit at Rs.356 crore in the quarter ended March, against Rs.160 crore, helped by higher volumes and lower input costs.