January 29, 2020 / 11:43 AM / a month ago

Marathon Petroleum profit falls 53% on $1.2 bln charge

Jan 29 (Reuters) - U.S. refiner Marathon Petroleum Corp reported a 53% fall in quarterly profit on Wednesday, as it took a $1.2 billion pre-tax charge primarily related to goodwill impairment in its limited partnership MPLX.

Net income attributable to the company fell to $443 million, or 68 cents per share, in the fourth quarter ended Dec. 31, from $951 million, or $1.35 per share, a year earlier.

Total revenue and other income fell 4% to $31.38 billion.

Reporting by Arundhati Sarkar and Shradha Singh in Bengaluru; Editing by Vinay Dwivedi

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