Hi @vijayk ,
Do you mean that the time value displaying differently in powerapps and sharepoint list?
The reason why you met this problem is that the default time zone is different in powerapps and sharepoint list.
PowerApps will always display local time by default.
While sharepoint display time based on the time zone that you set.
In your issue, I think the time zone you set in sharepoint list is different from the time zone in your current location.
So when you load time from sharepoint list, it will transfer to your local time automatically in PowerApps.
1)Time in PowerApps
Time will display as local time by default in powerapps. No matter which region you set in the studio page.

For example, I choose US as my region in this setting page.
However, since my current location is China, the time will display Beijing time by default in PowerApps.
2)Time in sharepoint
Time will not change based on your location.
You need to set your time zone manually.
Site information->view all site settings->region settings


Please change the time zone and Locale to your current location and time zone.
Then the time zone will be same in powerapps and sharepoint.
When you loading time from sharepoint list, time will not change.
Best regards,