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Homebuilder Toll Brothers reports 16 pct rise in revenue

Feb 26 (Reuters) - U.S. luxury homebuilder Toll Brothers Inc reported a nearly 16 percent jump in quarterly revenue on Tuesday, as a decline in mortgage rates rekindled demand for its homes.

The company's net income fell to $112.1 million, or 76 cents per share, in the first quarter ended Jan. 31, from $132.1 million, or 83 cents per share, a year earlier, when it recorded a benefit related to the U.S. tax reform.

Revenue rose to $1.36 billion from $1.18 billion.

(Reporting by Rachit Vats and Manogna Maddipatla in Bengaluru; Editing by Sriraj Kalluvila)