Israel's Oil Refineries Q3 net profit rises

* Net profit of $100 million

* Adjusted refining margin of $8.10 per barrel

* Posts tax income of $36 million

TEL AVIV, Nov 11 (Reuters) - Israel's Oil Refineries (ORL.TA) reported a sharp rise in third-quarter net profit on Wednesday due to strong refining margins, lower financing expenses and a tax gain.

Oil Refineries, Israel's biggest refinery, reported net profit of $100 million compared with $42,000 a year earlier.

Revenue fell to $1.45 billion in the quarter from $2.62 billion last year.

Financing expenses fell to $17 million in the quarter from $52 million a year ago due to the fair value adjustment of financial derivatives as well as a decline in interest expenses.

Its adjusted refining margin for the third quarter totalled $8.10 per barrel, compared with the average Mediterranean Ural Cracking Margin quoted by Reuters of $1.60.