UFT generates a very good and detailed result for the test run. It can be generated in xml and html both formats after the upgradations brought by UFT.
Still, if you want to generate the result in a different way, there is a way we to customize qtp/UFT generated test result log file.
This function modifies the result logging function of QTP/UFT and generates a very beautiful color coded and detailed statement for each step.
Go ahead and try !