February 1, 2018 / 11:47 AM / 4 months ago

Marathon Petroleum's profit surges on $1.5 bln gain from tax law

Feb 1 (Reuters) - U.S. independent refiner Marathon Petroleum Corp reported a huge jump in quarterly profit on Thursday, helped by a $1.5 billion gain from the recent changes to the U.S. tax law and higher refining margins.

Net income attributable to the company rose to $2.02 billion, or $4.09 per share, in the fourth quarter ended Dec. 31, from $227 million, or 43 cents per share, a year earlier.

Total revenue and other income rose to $21.24 billion from $17.28 billion. (Reporting by Anirban Paul in Bengaluru; Editing by Sriraj Kalluvila)

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