Quarterly Results ArchiveLast updated 20 September 20261 min read

Morarjee Textiles Posts Steep Revenue Decline But Losses Show Modest Improvement

The textile firm's revenue fell sharply year-on-year, though quarterly losses improved slightly from the prior quarter.

By Vinayak Gandhi, CFA · Created 20 September 2026

Morarjee Textiles reported a steep 84.7% drop in Q3 FY24 revenue compared to last year. However, the quarterly loss narrowed sequentially, showing some operational improvement.

Morarjee Textiles reported a quarter of sharply lower sales but a modest improvement in its bottom line. Revenue for the quarter ended December 2023 plummeted 84.7% compared to the same period last year, reflecting ongoing challenges for the premium fabric manufacturer. However, the net loss of ₹30.66 crore was a slight 9.0% improvement from the previous quarter, suggesting some stabilization in profitability.

The company's revenue trajectory has been volatile over the past year. After a sharp drop in Q2 FY24, sales rebounded in the latest quarter, though they remain a fraction of last year's levels. Losses, while still significant, have been narrowing over the last three quarters.

Revenue (₹ Cr)

Profit (₹ Cr)

Metric	CurrentQ3 FY24	PreviousQ2 FY24	Same quarter LYQ3 FY23
Period	Quarter ended December 2023	Quarter ended September 2023	Quarter ended December 2022
Revenue (₹ Cr)	9.07YoY -85%	0.24	59.12
Profit (₹ Cr)	-30.66YoY +21%	-28.14	-38.63

Key Points

The trailing twelve-month (TTM) revenue stands at ₹71.1 crore, with a TTM loss of ₹163.28 crore.
The stock has delivered a 7.8% return over the past year, closing at ₹24.85 on the results date.
Long-term investors have seen stronger performance, with the share price nearly doubling over a three-year period.

While the latest quarter shows a sequential easing of losses, the dramatic revenue decline underscores the scale of the turnaround required. The coming quarters will be critical for Morarjee Textiles to demonstrate a sustainable path back to meaningful sales growth.

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· MORARJEE

(BSE)

ISIN: INE161G01027

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