Feb 10 (Reuters) - Indian auto-parts maker Samvardhana Motherson posted a 16.5% rise in quarterly profit on Tuesday, helped by steady demand from automakers as vehicle sales picked up after recent tax cuts.

Profit rose to 10.24 billion rupees ($113.13 million)in the quarter ended December 31, from 8.79 billion rupees a year ago.

The company reported a 14% rise in revenue from operations to 314.09 billion rupees, driven by growth in its wiring harness, electronics and diversified industrial segments, the company said.

Shares of the company rose as much as 6% after results.

For more highlights, click here.

KEY CONTEXT

Indian auto sales got a boost from the government's sweeping September tax cuts.

Domestic car sales are projected to climb to nearly 6 million units by the end of the decade, driven by rising demand for SUVs and premium vehicles, according to S&P Mobility data.

Samvardhana Motherson, which supplies components to global automakers including Volkswagen , BMW and Mercedes-Benz is positioned to benefit from this shift, as higher-end vehicles require more complex wiring systems, modules and electronics, boosting demand for auto parts.

PEER COMPARISON

    Valuat   Esti   Anal      

ion mate ysts

(next s '

12 (nex sent

months t 12 imen

) mont t

hs)

  RIC PE EV Pr Reve Pro Mean # Stock Div

/E ic nue fit rati of to yie

BI e/ grow gro ng* ana price ld

TD Sa th wth lys targe (%)

A le ts t**

s

Samvardha 24 10 0. 9.33 30. Buy 21 0.95 0.4

na .6 .2 99 13 8

Motherson 2 9

Internati

onal Ltd

Bosch Ltd 39 34 NU 10.2 13. Hold 3 1.07 1.4

.4 .3 LL 4 03 1

6 0

UNO Minda 45 26 NU 17.3 22. Hold 17 0.87 0.1

Ltd .1 .0 LL 2 59 4

0 0

Sona BLW 39 23 NU 20.3 20. Buy 16 0.93 0.6

Precision .8 .4 LL 6 00 2

Forgings 7 6

Ltd

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

OCTOBER-DECEMBER STOCK PERFORMANCE

-- All data from LSEG

-- ($1 = 90.5130 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru; Editing by Nivedita Bhattacharjee)