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The main contribution of this paper is the use of a comparison principle to obtain upper bounds for the moments of impulsive SFDEs and subsequently provide a novel approach towards estimating moment Lyapunov exponents, leading to sharper results involving moment exponential stability of impulsive SFDEs. An outcome of these estimations is the possibility to design impulsive perturbations that render the system exponentially stable with a given exponential decay. Also, the conditions on the diffusion and drift coefficients (essentially, locally Lipschitz and growth conditions), coupled with growth conditions on the impulsive perturbations, are less demanding than those commonly employed.  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