Warren Buffett-led Berkshire Hathaway exits Paytm with a loss of over ₹600 crore

The buyers in the transaction include Copthall Mauritius Investment and Ghisallo Master Fund, picking up 1.19% and 0.67% stake, respectively.

Buffett’s Berkshire Hathaway reduced the number of stocks in its portfolio in the third quarter, exiting stakes in General Motors and Activision Blizzard while trimming bets on companies including HP.

Paytm has been in focus after the Reserve Bank of India (RBI) tightened consumer lending norms, asking banks and shadow banks to set aside higher capital buffers.

Paytm has also been named as one of the inclusions in the MSCI Global Standards Index.

One 97 Communications Ltd share price settled at ₹895 apiece, down 3.08% on the NSE at Friday's closing trade. The Paytm stock price opened at ₹920 and hit the intra-day low price at ₹877.15.

So far this year, the Paytm share price has gained more than 68%, but the one-month return on the stock is negative at -2.3%.

One97 Communications, the parent company of Paytm, reported a loss of ₹290.5 crore for the second quarter that ended September 30, 2023. In the corresponding quarter last year, Paytm posted a net loss of ₹571.1 crore. In the quarter, total revenue stood at ₹2,519 crore during the period under review, up 32% against ₹1,914 crore in the corresponding period of the preceding fiscal.