JSC National Atomic Co. Kazatomprom's first-quarter net profit attributable to shareholders dropped to 11.37 billion Kazakh tenge, or 44 tenge per share, from 317.99 billion tenge, or 1,226 tenge per share, a year ago.

The year-ago results were inflated mainly due to a gain on business combinations of 313.5 billion tenge, according to a May 28 release. Gross profit rose to 18.11 billion tenge from 13.59 billion tenge year over year.

Revenue slid to 57.22 billion tenge from 58.96 billion tenge, while the cost of sales dropped to 39.12 billion tenge from 45.37 billion tenge in the prior-year quarter.

Sales dropped 28% year over year to 1,645 tonnes of uranium, primarily due to a customer's request to shift an 800-tonne delivery to the second quarter.

Attributable production for the quarter climbed 5% year over year to 3,063 tonnes of uranium.

In the full year, the Kazakhstan state-owned uranium producer expects to generate revenue of 485 billion tenge to 505 billion tenge.

Attributable uranium production in 2019 is estimated at 13,000 to 13,500 tonnes at C1 cash costs of US$11.00 per pound to US$12.00/lb and all-in sustaining costs of US$15.00/lb to US$16.00/lb.

Total capital expenditure is estimated at 85 billion tenge to 95 billion tenge in 2019.

As of May 27, US$1 was equivalent to 379.23 Kazakh tenge.