TCS calls reports "misleading" and disputes losing a $1 billion Marks & Spencer contract due to a cyberattack.

According to sources, Tata Consultancy Services (TCS) lost a $1 billion contract with the British behemoth Marks & Spencer as a result of cyberattack-related setbacks.

According to sources, Tata Consultancy Services (TCS) lost a $1 billion contract with British behemoth Marks & Spencer as a result of cyberattack-related issues.

The IT behemoth disputed the allegation, which was published by the UK publication The Telegraph, as "misleading."

Late on Sunday, TCS clarified its Marks & Spencer deal in an exchange filing.

"The size of the contract and the continuity of TCS's work for Marks & Spencer (M&S) are among the factual inaccuracies in the report published by The Telegraph," it stated.

It claimed that there were factual errors in the report "M&S ousts Indian outsourcer accused of £300m cyberattack failures."

It stated that before the cyberattack occurred in April 2025, the contract in question underwent a standard competitive bidding process that began in January of this year.

The service desk contract with M&S was the result of a standard competitive RFP process that was started in January 2025, as both M&S and TCS have explained. M&S chose to move forward with other partners well before the cyber attack in April 2025. As a result, these issues are obviously unrelated," TCS stated in the submission.

The business added that TCS's overall interactions with Marks & Spencer are "insignificant" un terms of the commercial portion of the service desk area.

"TCS is proud of this long-standing partnership and continues to work on many other areas in its role as a strategic partner for M&S."

TCS reiterated its earlier explanation regarding the April M&S cyberattack, stating that it had scanned its networks internally and discovered that the attack did not start there.

"TCS doesn't offer M&S cybersecurity services. The Indian IT behemoth stated, "This is a service that is offered by another partner."

What was said in the report on the TCS-M&S deal?

Following the "devastating" cyberattack, Marks & Spencer reportedly terminated a $1 billion deal with TCS, according to a report published by "The Telegraph" on October 26.

The FTSE 100 company terminated TCS's contract to run its technical helpdesk after it was revealed that M&S had lost almost £300 million as a result of the attack.

According to the article, three months after the breach was made public in April, the TCS-Marks & Spencer transaction was canceled in July.

Two years ago, Marks & Spencer, which has been a customer of TCS for more than ten years, inked a $1 billion contract with the Indian IT behemoth.

Today's share price of TCS

Today, the price of TCS shares closed the day higher. The TCS stock was up 0.65% from its previous level, trading at ₹3,083 on the NSE at the closing bell.