HollyFrontier Profit Doubles on Higher Margins

U.S. refiner HollyFrontier Corp's quarterly profit more than doubled, helped by a rise in refining margins due to lower crude prices.

Net income attributable to the company's shareholders rose to $360.8 million, or $1.88 per share, in the second quarter ended June 30, from $176.4 million, or 89 cents per share, a year earlier.

Sales and other revenue declined about 31 percent to $3.70 billion.

Reporting by Amrutha Gayathri