October 27, 2016 / 10:57 AM / in a year

Refiner Marathon Petroleum reports 84.7 pct fall in profit

Oct 27 (Reuters) - Marathon Petroleum Corp reported an 84.7 percent drop in quarterly profit, partly hurt by lower refining margins.

Net income attributable to Marathon Petroleum fell to $145 million, or 27 cents per share, in the quarter ended Sept. 30 from $948 million, or $1.76 per share, a year earlier.

The company reported an impairment charge of $267 million, or 31 cents per share, as the company and its partner Enbridge Inc scrapped the Sandpiper Pipeline project.

Revenue and other income fell 12.3 percent to $16.46 billion. (Reporting by Vishaka George in Bengaluru; Editing by Don Sebastian)

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