D.R. Horton profit boosted by higher demand from home buyers

FILE PHOTO: A house built by the D.R. Horton company is seen for sale in Arvada, Colorado January 24, 2017. REUTERS/Rick Wilking/File Photo

(Reuters) – D.R. Horton Inc (DHI.N), the largest U.S. homebuilder, reported a 48.8 percent rise in quarterly profit, driven by healthy demand from home buyers and lower tax.

D.R. Horton’s net income rose to $466.1 million, or $1.22 per share, in the fourth quarter ended Sept. 30, from $313.2 million, or 82 cents per share, a year earlier.

Reporting by Ankit Ajmera in Bengaluru; Editing by James Emmanuel

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