New Delhi, Jun 30 (PTI) Shares of General Insurance Corporation of India on Wednesday jumped nearly 4 per cent after the company reported a consolidated net profit of Rs 1,991.59 crore for the financial year 2020-21.

The stock gained 3.57 per cent to Rs 211.50 on the BSE.

At the NSE, it jumped 3.52 per cent to Rs 211.50.

The state-owned reinsurer had posted a loss of Rs 186.46 crore in 2019-20.

On a standalone basis, it posted a profit after tax of Rs 1,920.44 crore for FY21, as against a loss of Rs 359.10 crore a year ago, according to a company statement on Tuesday.

It said that despite the handsome performance in FY21, the pandemic has created "significant uncertainties" on the growth front.

The gross premium collected in FY 2020-21 went down to Rs 47,014 crore, from Rs 51,030 crore in the previous financial year, while the net premium was also down.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)