D.R. Horton profit boosted by higher home sales

Industries Reuters

(REUTERS)

 D.R. Horton, the largest U.S. homebuilder, reported a 10.4 percent rise in quarterly profit as it sold more homes.

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The company's net income rose to $313.2 million, or 82 cents per share, in the fourth quarter ended Sept. 30, from $283.6 million, or 75 cents per share, a year earlier.

Home sales revenue rose 10.9 percent to $4.04 billion.

Net sales orders rose 18.2 percent to 10,333 homes.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Saumyadeb Chakrabarty)