A 10% drop in Telstra Corp. has led to an annual fall of 1.2% in the Australian stocks, to a fresh 3-week low on Thursday. This time, Telstra has undergone the biggest one-day percentage fall since December 2008, and has ended 9.5% lower at A$2.94.

Besides this, the Company has shown a decrease of 8.3% in its capital expenditure, as reported by parent Telstra Corp Ltd. In the year till June 30, the TelstraClear's earnings before interest, tax, depreciation and amortization on an individual basis were $NZ157 million; whereas, in the same period last year, they were $NZ159 million.

This year, the Company had already warned that its earnings would reduce, and some of its fragments might suffer, besides a hike in spending. Now, for the coming year, Telstra said, it "expects a high single digit percentage decline in Ebitda. Investments and changing product mix" are blamed for the predicted earnings fall.

The net profit of the Company has dropped 4.7% to $A3.88 billion ($NZ4.9 billion), while the total income has plunged 1.4% to $NZ693 million in New Zealand. Also, there has been a minute change in the margin on sales revenue at 23.6% for the Company.

To sum up, the total income in New Zealand has dropped 3.1% and earnings have decreased 2.8%, in Australian dollars.