When i rev my engine a light smoke comes out but it is not continuous, and smell of burning oil also comes. For this purpose i did compression test on all cylinders, all look fine, before taking plugs out , i saw bit of oil beside them .
plugs are bit dark.
compression was Almost 220psi on all cylinders, what could be reason of smoke from exhaust ? Smoke and smell of oil !!





Results of compression test.

 

Compression readings look very good, perhaps on the high side?
Those plugs seem to be the correct heat range, 6, but indicate the engine is running rich.
Is the car usually used for short runs?
I think I'd check &/or change the air filter first & then maybe drive with a little more verve!

 

Looks more oily, last time my sparks was that bad and the same symptom to yours one of the piston went.

I wouldn't drive the car hard until you can find the problem.

Have you had any work done it recently?

Problems you have can range from faulty turbo to valve stem seals etc...

 

The plug on the far right in the first pic looks to have oily deposits on it. I would install 4 new plugs and change the oil and filter, maybe go a bit thicker on the oil.

 

car is 97k miles driven, dont know of used for short trips, i bought it few days back , compression might not be 100% perfect, i used cheap amazon 20$ Tester , but it serves the purpose.

 

Is it possible the car has an aftermarket oil dipstick? Some of the aftermarket ones do not read correctly and maybe the previous owner overfilled on last oil change. Just a thought

 

i dont know if the dipstick is after market or not, but it is very annoying, a long spring type thing with pointed metal piece at end. Some jerk designed it . I cant even see level of oil, specially when oil is clean