MPLX profits down 62% in 2nd quarter

MPLX LP, the wholly owned pipeline subsidiary of Marathon Petroleum Corp., on Wednesday reported a second quarter profit of $19 million, which equated to a loss of 11 cents per share, down 62 percent from the same period a year ago when the subsidiary had a profit of $51 million, or 50 cents a share. MPLX had revenues of $564 million, up from $213 million a year ago.