Refiner HollyFrontier's quarterly profit plunges 91 pct

Wed May 4, 2016 6:36am EDT
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May 4 (Reuters) - U.S. refiner HollyFrontier Corp reported a 91 percent fall in quarterly profit hurt by a steep fall in refining margins and lower refinery utilization rate.

The net profit attributable to the company's shareholders fell to $21.3 million, or 12 cents per share, in the first quarter ended March 31, from $226.9 million, or $1.16 per share, a year earlier.

Sales and other revenue fell 33 percent to $2.02 billion. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Shounak Dasgupta)