Homebuilder PulteGroup's profit rises 38 percent

Oct 24 (Reuters) - U.S. homebuilder PulteGroup Inc reported a 38.2 percent rise in quarterly profit, as home sales and average selling prices increased.

The company's net income rose to $177.5 million, or 58 cents per share in the third quarter ended Sept. 30, from $128.5 million, or 37 cents per share, a year earlier.

Revenue rose 9.6 percent to $2.13 billion. (Reporting by Arunima Banerjee in Bengaluru; Editing by Bernard Orr)