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Lennar new orders jump 40 percent


    (Reuters) - Third-largest U.S. homebuilder Lennar Corp reported a higher second-quarter profit, and said new orders jumped 40 percent.

    Net income rose to $452.7 million, or $2.06 per share, from $13.8 million, or 7 cents per share, a year earlier.

    Revenue rose 22 percent to $930.2 million.

    Shares of the company closed at $27.39 on the New York Stock Exchange on Tuesday.

    (Reporting by Megha Mandavia in Bangalore; Editing by Joyjeet Das)