Aramco is "ready" for the IPO but the timing is a "government decision", Amin Nasser told reporters.
Aramco is preparing to sell up to a 5 per cent stake by 2020-2021.
ATC is key to Saudi Aramco’s strategy as it expands its refining and petrochemical operations to boost global sales.
Revision in the outlook follows RIL announcing plans to sell a 20 pc stake in its oil-to-chemical division to Saudi Aramco.
A refinery in India can also be a base for it to export fuel to deficit countries in Europe and the Americas.
The scrip opened the day on a bullish note and jumped 12.09 per cent to Rs 1,302.50 on the BSE.
Aramco to buy 20 per cent in ‘oil to chemicals’ division for $15 billion, BP to buy 49 per cent in petrol pumps.
The fall in income comes amid renewed speculation the company was preparing for its much-delayed overseas stock listing.
Reliance will induct leading global partners in (telecom arm) Jio and Reliance Retail in the next few quarters.
Govt panel has recommended allowing marketing rights for sale of gasoil and aviation fuel with a net worth of 2.5 bn rupees.